Mark Zuckerberg, CEO of Meta Platforms, has become the world’s second-richest person, surpassing Amazon founder Jeff Bezos. This achievement marks a major comeback for Zuckerberg.
His net worth reached $206.2 billion, driven by Meta’s strong performance and investor confidence in the company’s focus on artificial intelligence (AI) and augmented reality (AR).
Meta’s stock price has gone up 23% since its better-than-expected Q2 results, reaching an all-time high of $582.77. This increase added $1.1 billion to Zuckerberg’s wealth, putting him ahead of Bezos, whose net worth is now $205.1 billion, according to Bloomberg’s Billionaires Index.
Zuckerberg’s rise comes after a few tough years. His investments in the metaverse wiped out over $100 billion of his fortune in 2022, raising concerns about Meta’s strategy. However, he made a strong comeback by shifting Meta’s focus to AI.
Meta is now investing heavily in data centers and advanced technologies, aiming to be a leader in the global AI race. Its AI assistant, Meta AI, is expected to become one of the most widely used, with nearly 500 million active users each month. The company is also working on AR projects like the new Orion augmented reality glasses.
These moves have transformed Meta from a social media platform into a major player in both the AI and AR markets.
Zuckerberg’s wealth, which has grown by $78 billion this year alone, mostly comes from his 13% ownership in Meta, which is valued at about 345.5 million shares.
He has now overtaken other tech leaders like Larry Ellison of Oracle and former Microsoft CEOs Bill Gates and Steve Ballmer. Despite this, he remains behind Elon Musk, who is still the world’s richest person with a net worth of $256.2 billion.
Zuckerberg’s entry into the exclusive $200 billion club shows Meta’s renewed strength in the eyes of investors. The company is trading close to the Nasdaq 100 average, reflecting strong confidence in its future.
With Meta’s AI and AR projects gaining traction, Zuckerberg might now be aiming to catch up with Musk in the race to become the world’s richest person.
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