On Thursday, the Bloomberg Billionaires Index showed Mark Zuckerberg’s net worth reached $206.2 billion, surpassing Jeff Bezos’ net worth of $205.1 billion, and following behind Elon Musk approximately by $50 billion.
Zuckerberg has a 13% stake in Meta Platform, a major contribution to his net worth that rose by $78 billion since January this year. It was considered the highest acceleration among any other 500 richest people listed in the Bloomberg Index. More importantly, the surge of Meta shares on Thursday that closed at an unprecedented high of $587.22 was also a key point that led to Zuckerberg surpassing Amazon’s CEO. The share price of Meta rose nearly 68% from early this year when it was trading at $346.29.
Zuckerberg’s rise highlights the growth of his wealth, and investors’ eagerness in Meta this year’s marvelous performance.
In 2024, Meta has frequently outperformed Wall Street analyst estimates, like when Meta’s 2Q24 report showed sales grew by 22% to $39.07 billion, making it the fourth consecutive quarter where revenue growth exceeded 20%.
Meta has attributed its growth to its huge investment into artificial intelligence that helps improve the capability of online advertisement, after the iOS update by Apple dealt a considerable blow to Meta’s ability to track user activity on the internet, costing them $10 billion in revenue.
Meta revenue from advertisement was bolstered by an aggressive online advertisement campaign from Chinese affiliate retailers like Shien and Temu.
