Meta CEO Mark Zuckerberg enters the elite $200 billion club, becomes world's fourth-richest person
California/IBNS: Meta CEO Mark Zuckerberg has officially entered the elite $200 billion net worth club, marking a major achievement in his financial trajectory.
According to the Bloomberg Billionaire Index, Zuckerberg’s wealth has surged to $201 billion, placing him as the fourth-richest person in the world.
He now trails Amazon’s Jeff Bezos, Tesla's Elon Musk, and LVMH’s Bernard Arnault.
Currently, Elon Musk leads the global wealth rankings with a net worth of $272 billion, followed by Jeff Bezos at $211 billion and Bernard Arnault at $207 billion.
Zuckerberg’s fortune is largely tied to his 13 percent ownership in Meta, consisting of around 345.5 million shares.
In 2024 alone, his wealth has increased by $73.4 billion, propelling him ahead of tech giants like Oracle's Larry Ellison, and former Microsoft leaders Bill Gates and Steve Ballmer.
The remarkable rise in Zuckerberg’s wealth can be attributed to a nearly 60 percent increase in Meta’s stock price this year, with shares hitting a high of over $560.
Investors have shown strong interest, with Meta trading at about 24 times its forward earnings, just below the Nasdaq 100's 26 times average.
At the Meta Connect 2024 event, Zuckerberg underscored the company’s focus on artificial intelligence.
He revealed that Meta AI is on track to become the world's most widely used AI assistant, already nearing 500 million monthly active users.
“We haven’t even launched in major markets like the European Union,” Zuckerberg noted, hinting at the immense growth potential.
Zuckerberg isn’t alone in benefiting from the tech boom this year. Nvidia’s CEO, Jensen Huang, and Oracle’s co-founder, Larry Ellison, have seen their net worths increase by $62.2 billion and $58.6 billion, respectively.
Zuckerberg's milestone comes after a challenging few years.
Following setbacks in his metaverse investments, which wiped out more than $100 billion from his net worth in 2022, Zuckerberg has steered Meta through a successful transformation.
The launch of products like Orion augmented reality glasses has helped shift Meta’s focus from social media to becoming a serious player in the metaverse industry.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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