Oct 04, 2024 08:00 AM IST
Mark Zuckerberg’s net worth has reached $206.2 billion, surpassing Jeff Bezos as the world’s second richest person.
Meta CEO Mark Zuckerberg surpassed Jeff Bezos to become world’s second richest person as his net worth reached $206.2 billion, according to the Bloomberg Billionaires Index. With this, Mark Zuckerberg topped the $205.1 billion net worth of former Amazon CEO and president Jeff Bezos. At present, the Facebook co-founder trails Tesla CEO Elon Musk by almost $50 billion, the index showed.
How has 2024 been for Mark Zuckerberg?
Mark Zuckerberg, who owns a 13% stake in the Menlo Park, California-based company, has seen his fortune grow $78 billion so far this year and has gained four spots this year on the wealth index.
In 2024, Mark Zuckerberg’s net-worth has risen by $78 billion- more than any member of the of the 500 richest people who are tracked by the Bloomberg Index.
How is Meta performing at the stock market in 2024?
Meta shares have jumped almost 70% since the start of this year owing to increase in Mark Zuckerberg’s personal wealth alongside investor enthusiasm. Meta has repeatedly boasted of its artificial intelligence (AI) investments as a reason for its sales growth.
This is a huge turnaround for the company which laid of 21,000 employees in late 2022 as Mark Zuckerberg instituted a major cost-cutting plan that investors feel helped the company rebound.
Is investor confidence in Meta constant now?
At present, Meta is spending billions of dollars on the virtual and augmented reality technologies, but investors continue to support the company whose core ad business remains healthy. Last week, Meta debuted its Orion AR glasses, which garnered positive reviews.