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In a remarkable turn of events, Meta CEO Mark Zuckerberg has surpassed former Amazon CEO Jeff Bezos to claim the title of the world’s second-richest person, with a net worth of $206.2 billion, according to the Bloomberg Billionaires Index. This achievement sees Zuckerberg outpacing Bezos’s net worth of $205.1 billion, although he still trails Tesla CEO Elon Musk by nearly $50 billion.
A Year of Growth for Zuckerberg
Zuckerberg’s financial ascent has been particularly notable in 2024, as his net worth has increased by an astounding $78 billion, marking him as the biggest gainer among the 500 wealthiest individuals tracked by the Bloomberg Index. He has risen four spots in the rankings this year alone.
Meta’s Stock Performance
Meta’s stock has surged nearly 70% since the beginning of the year, a significant factor contributing to Zuckerberg’s newfound wealth. This surge is attributed to the company’s strong performance, buoyed by investor enthusiasm surrounding its investments in artificial intelligence (AI), which have been highlighted as key drivers for sales growth.
The company’s transformation is particularly striking, given its recent history. In late 2022, Zuckerberg implemented a substantial cost-cutting plan, leading to the layoff of 21,000 employees. Many investors credit this strategic shift as essential in helping Meta rebound and thrive.
Continued Investor Confidence
Despite spending billions on virtual and augmented reality technologies, investor confidence in Meta appears to remain strong. The company’s core advertising business is still performing robustly. Recently, Meta launched its Orion AR glasses, which received positive reviews, further solidifying its reputation in innovative technology.
As Zuckerberg continues to navigate the evolving tech landscape, his remarkable rise to the second-richest person in the world underscores not only his personal achievements but also the resilient growth trajectory of Meta.
Sources By Agencies
