The CEO of Meta, Mark Zuckerberg, has achieved a major financial milestone in his path by officially becoming a member of the exclusive $200 billion club.
Mark Zuckerberg has become the fourth richest person in the world, after Tesla CEO Elon Musk, LVMH Chairman Bernard Arnault, and Amazon founder Jeff Bezos, with a net worth of $201 billion, according to Bloomberg’s Billionaire Index.
With a whopping $272 billion in net worth, Elon Musk continues to hold the title of richest person in the world as of right now. Jeff Bezos is next with $211 billion, and Bernard Arnault is third with $207 billion.
Zuckerberg’s 13% ownership position in Meta, which he owns through about 345.5 million shares, is largely responsible for his riches.
Zuckerberg’s wealth has increased by an astounding $73.4 billion just this year, putting him ahead of other industry heavyweights like Larry Ellison, the co-founder of Oracle, and the former CEOs of Microsoft, Bill Gates and Steve Ballmer.
Zuckerberg’s fortune has increased due to Meta’s stock price rising by almost 60% since January 2024, when shares hit all-time highs of more than $560 a share.
The company, which is selling at roughly 24 times its anticipated earnings—slightly less than the average ratio of 26 times for the Nasdaq 100—has drawn significant interest from investors due to its excellent valuation.
Zuckerberg brought attention to the company’s ambitious aspirations for its AI endeavors at the most recent Meta Connect 2024 event. He declared that with almost 500 million monthly active users, Meta AI is poised to overtake other assistants as the most popular in the world.
He stated, “We haven’t even launched in major markets like the European Union yet,” signaling tremendous room for expansion.Other tech titans have also made significant gains this year, so Zuckerberg is not the only one enjoying this wealth rise.
The net worths of Larry Ellison, the co-founder of Oracle, and Jensen Huang, the CEO of Nvidia, have increased by $58.6 billion and $62.2 billion, respectively.
Zuckerberg’s rise to $200 billion is especially remarkable in light of the difficulties he has encountered lately.
He has successfully led Meta through a transformative phase following a turbulent era where his metaverse investments first looked foolish, wiping off over $100 billion from his net worth in 2022.
The company’s transformation from a social networking platform to a player in the metaverse has been aided by the launch of cutting-edge goods like the Orion augmented reality glasses.
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