Meta CEO Mark Zuckerberg is now the world’s second richest person for the first time!
According to the Bloomberg Billionaires Index 2024, a daily ranking of the world’s richest people, Zuckerberg’s net worth has reached $206.2 billion, surpassing the Founder of Amazon Jeff Bezos’ $205.1 billion and even Kuwait’s Gross Domestic Product (GDP) of Kuwait at $160.4 billion.
Zuckerberg, who owns a 13 percent stake in Meta, increased his wealth by $78 billion, the highest growth among the 500 richest people as tracked by the Bloomberg Index.
As of this writing, Zuckerberg’s monetary worth is behind Tesla CEO Elon Musk by about $50 billion.
This year, Zuckerberg’s Meta has shown impressive performance in the stock market, with shares soaring nearly 70 percent. A significant factor behind this success is the company’s substantial investment in artificial intelligence (AI).
This marks a remarkable turnaround for Meta, which had to lay off 21,000 employees in late 2022 as part of cost-cutting measures. However, the company managed to rebound, and these layoffs are now recognized as a crucial factor in its recovery.
Despite the challenges, investor confidence in Meta remains strong. The company’s significant investments in the AI sector, including virtual and augmented reality technologies, have bolstered its core advertising business, which continues to thrive.
