October 5th 2024.
It's no secret that Mark Zuckerberg's bank account is constantly growing. The CEO of Meta, the company formerly known as Facebook, has just surpassed Jeff Bezos and Bernard Arnault to become the second-richest person in the world. According to Bloomberg's Billionaire Index, Zuckerberg's personal fortune now stands at a whopping $206 billion, putting him just behind Elon Musk.
This is a huge milestone for Zuckerberg, who has seen his wealth increase by an incredible $78.1 billion in just one year. He is now a member of the exclusive $200 billion club, which only includes two other people: Musk and Bezos. Arnault, the CEO of luxury brand LVMH, was previously part of this club but has since been edged out by Zuckerberg with a fortune of $193 billion.
Zuckerberg's wealth is largely tied to his company's stock, Meta Platforms. The value of these shares has skyrocketed by more than 72% in 2024, contributing to Zuckerberg's impressive net worth. On Friday, Meta shares hit an all-time high of $595.94, a 2.26% increase from the previous day.
Meta, formerly known as Facebook, is the parent company of several popular social media platforms such as Facebook, Instagram, and Threads. They also own the widely used instant messaging app, WhatsApp. At the Meta Connect 2024 event on September 25, Zuckerberg shared his vision for the company's AI, calling it "the most used assistant in the world." He also mentioned that they are close to reaching 500 million monthly users, with plans to expand into more countries in the European Union.
Zuckerberg is not the only tech mogul to have a significant increase in wealth this year. Jensen Huang, CEO of Nvidia, and Larry Ellison, co-founder of Oracle, have both seen their net worths surge by $63.5 billion and $55.9 billion, respectively. It's clear that the tech industry continues to be a lucrative field for these top executives.
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