Mark Zuckerberg has officially become the fourth richest person in the world, with a net worth of $201 billion, according to Bloomberg’s Billionaire Index on September 30, 2024.
This marks a big change for Zuckerberg, whose wealth has grown dramatically in the last two years.
Key Highlights of Zuckerberg’s Financial Milestone
Wealth Surge
Zuckerberg’s net worth has jumped nearly six times in less than two years. This increase is mainly due to the rise in Meta’s stock price, which has gone up nearly 60% since January 2024.
He owns about 13% of Meta, which is around 345.5 million shares.
Current Rankings
Zuckerberg now ranks just behind three other billionaires:
- Elon Musk: $272 billion
- Jeff Bezos: $211 billion
- Bernard Arnault: $207 billion
Stock Performance and Market Confidence
Meta’s stock price has hit record highs, trading over $560 per share. This rise shows strong confidence from investors.
Meta is now trading at about 24 times its expected earnings, which is slightly lower than the Nasdaq 100 average of 26 times.
The company also made a significant revenue of $134.9 billion in 2023, adding to the growth in stock value.
Strategic Shifts and Innovations
Zuckerberg’s financial comeback comes after a tough time in 2022, when he lost over $100 billion due to heavy investments in the metaverse.
However, new strategies, like the launch of the Orion augmented reality glasses, are starting to pay off.
At the recent Meta Connect 2024 event, Zuckerberg talked about exciting plans for artificial intelligence (AI).
He believes that Meta AI could become one of the most popular digital assistants, with nearly 500 million users each month.
Broader Trends in Tech Wealth
Zuckerberg’s rise is part of a larger trend where many tech leaders are seeing their wealth grow in 2024.
For example, Nvidia CEO Jensen Huang’s net worth increased by $62.2 billion, and Oracle co-founder Larry Ellison gained $58.6 billion this yea
Zuckerberg’s success not only shows his position among the world’s richest but also reflects the changing world of technology and investments, especially in AI and augmented reality.
