In a stunning turn of events, Mark Zuckerberg has catapulted to the second spot on the global wealth ladder, surpassing Jeff Bezos as Meta Platforms Inc.’s stock continues its upward trajectory. The Facebook founder’s fortunes have soared to an unprecedented $206.2 billion, according to the Bloomberg Billionaires Index, placing him a mere $1.1 billion behind Bezos and $49 billion shy of Elon Musk’s top spot.
Zuckerberg’s bold wager on the metaverse, initially met with skepticism, has yielded impressive returns in recent months. The company’s shares have surged 23% since its second-quarter earnings report, which highlighted its progress in developing large language models that power AI chatbots. The stock closed at an all-time high of $582.77 on Thursday.
Meta’s aggressive investment in data centers and computing power has positioned the company as a frontrunner in the AI race. Additionally, the company has made significant strides in its long-term projects, including the introduction of its Orion augmented reality glasses last month.
As the largest shareholder of Meta, owning 13% of the company, Zuckerberg has witnessed his net worth swell by a staggering $78 billion this year, the largest gain among the world’s 500 wealthiest individuals tracked by the Bloomberg index. The 40-year-old CEO has climbed four spots on the wealth index this year, solidifying his position as one of the most influential figures in the tech industry.
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