Meta CEO Mark Zuckerberg has made headlines as he has become the second richest person in the world, surpassing notable figures like Jeff Bezos and Bernard Arnault.
Zuckerberg's wealth is now valued at an impressive $206 billion, placing him just behind Elon Musk, who leads with a staggering net worth of $256 billion, according to recent data from Bloomberg's Billionaire Index.
Mark Zuckerberg Now Second Richest Man in the World
Zuckerberg's remarkable rise in wealth is attributed to a significant increase of $78.1 billion in 2024 alone. He has entered the exclusive $200 billion club, which includes only two other individuals: Musk and Bezos, who has a fortune of $205 billion.
Meanwhile, Arnault, known for his luxury brand LVMH, has seen a decrease in his net worth, now valued at $193 billion.
The 40-year-old Zuckerberg has been the founder of Facebook since 2004, and a substantial portion of his wealth is tied to the stock of Meta Platforms, the company behind popular social media sites like Facebook, Instagram, and Threads, as well as the messaging app WhatsApp.
In 2024, Meta's stock has surged, showing an increase of over 72%. On Friday, Meta shares rose by 2.26%, closing at a remarkable record high of $595.94, according to CNN.
During a speech on September 25 at the Meta Connect 2024 event, Zuckerberg shared exciting news about the company's progress. He announced that Meta AI is on track to become the most widely used assistant in the world.
"We're almost at 500 million monthly (active users), and we haven't even launched in some of the bigger countries yet," he stated, referring to the potential in countries within the European Union.
Zuckerberg's Wealth Growth
Zuckerberg's climb in wealth mirrors a broader trend of increasing fortunes among tech leaders. Not only has Zuckerberg seen impressive growth, but other tech titans like Jensen Huang, CEO of Nvidia, and Larry Ellison, co-founder of Oracle, have also enjoyed significant increases in their net worths. Huang's wealth rose by $63.5 billion this year, while Ellison's increased by $55.9 billion.
This financial turnaround for Zuckerberg comes just two years after he faced significant challenges. He encountered financial losses linked to policy errors, privacy scandals, and issues surrounding election meddling and misinformation.
According to Mashable, these problems were compounded by the departure of former COO Sheryl Sandberg, which drew attention to the company's struggles during that time.
Zuckerberg's public image has also evolved. He is often seen wearing his trademark $340 Brunello Cucinelli grey t-shirt, but has recently embraced a more relaxed style, sporting chains and custom t-shirts while showing off a new hairstyle.
His family life, which includes a supportive wife and daughters, appears to play a role in his changing image. This shift in both his brand image and Meta's focus on artificial intelligence could be significant factors impacting his growing wealth.
With Meta's shift toward creating advanced AI-enabled devices, it seems that Zuckerberg's fortunes are on a promising trajectory.
