Is Jeff Bezos No Longer the King of Wealth? Zuckerberg Claims the Silver Throne

Meta’s CEO Mark Zuckerberg has surpassed former Amazon CEO Jeff Bezos to become the world’s second-richest person, with a net worth of $206.2 billion, according to the Bloomberg Billionaires Index. This achievement places Zuckerberg ahead of Bezos, whose net worth is reported at $205.1 billion. However, Zuckerberg still trails behind Tesla CEO Elon Musk, who holds a net worth nearly $50 billion greater.

Zuckerberg’s Wealth Surge in 2024

So far in 2024, Mark Zuckerberg has experienced a remarkable increase in his wealth, growing by $78 billion. This growth has elevated him four positions on the wealth index, making him the highest gainer among the 500 richest individuals tracked by Bloomberg.

Meta’s Stock Performance Boosts Zuckerberg’s Fortune

Meta’s stock has seen a significant surge of nearly 70% since the beginning of this year, contributing to Zuckerberg’s increased wealth. The rise in stock prices is attributed to investor enthusiasm, particularly regarding Meta’s advancements in artificial intelligence (AI), which the company has highlighted as a key driver of sales growth. This marks a significant turnaround for Meta, which laid off 21,000 employees in late 2022 as part of a major cost-cutting strategy.

Investor Confidence in Meta Remains Strong

Currently, Meta is investing billions in virtual and augmented reality technologies. Despite these large expenditures, investor confidence in the company remains robust, especially given that its core advertising business continues to thrive. Recently, Meta launched its Orion AR glasses, which received positive reviews, further enhancing the company’s image in the tech market.