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Simplifying... Inshort

Mark Zuckerberg, Meta's owner, has become the world's second-richest person, thanks to a $78 billion increase in his wealth in 2024.
This leap is largely due to Meta's impressive stock market performance and strategic investments in artificial intelligence.
The company's successful turnaround and the launch of innovative products like the Orion AR glasses have also boosted investor confidence, ensuring the stability of Meta's primary revenue source - its core advertising business.

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Zuckerberg's current net worth is $206.2 billion

Mark Zuckerberg surpasses Jeff Bezos to become world's 2nd-richest person

By Mudit Dube

Oct 04, 2024

11:37 am

What's the story

Mark Zuckerberg, the CEO of Meta, has surpassed Amazon founder Jeff Bezos to become the world's second-richest person. This information is based on the latest Bloomberg Billionaires Index, which shows Zuckerberg's net worth at an impressive $206.2 billion in 2024. This figure exceeds Bezos's wealth by $1.1 billion and places Zuckerberg just behind Tesla and SpaceX CEO Elon Musk ($256 billion) in global rankings .

Wealth surge

Zuckerberg's wealth increase outpaces other billionaires

Zuckerberg's wealth has seen a significant increase of $78 billion in 2024, a growth rate that surpasses any other individual on Bloomberg's index of the world's 500 wealthiest people. He owns 13% stake in Meta, equivalent to approximately 345.5 million shares of the company. This substantial rise is primarily attributed to Meta's outstanding performance in the stock market. The company's shares have experienced an almost 70% surge since the start of this year, contributing significantly to Zuckerberg's increased net worth.

Company growth

Meta's strategic decisions and AI investments boost Zuckerberg's wealth

Meta's successful year, marked by strategic decisions and a robust core ad business, has played a crucial role in Zuckerberg's wealth increase. Investors have shown keen interest in Meta's substantial investments in artificial intelligence (AI), a factor that has significantly contributed to the company's revenue growth. "Meta has repeatedly boasted of its AI investments as a reason for its sales growth," noted one market analyst.

Investor sentiment

Meta's turnaround and new product launches bolster investor confidence

Meta's successful turnaround in 2024, following a challenging period in 2022, has helped restore investor confidence. The company's recent unveiling of its cutting-edge Orion AR glasses has also positively influenced investor sentiment. Despite investing heavily in virtual and augmented reality technologies, Meta's core advertising business remains strong. This reassures investors about the stability of the company's primary revenue sources.