Mark Zuckerberg has officially overtaken Jeff Bezos to become the world’s second richest person, with a fortune now valued at $206 billion. This marks the first time Zuckerberg has surpassed Bezos in wealth rankings.
The Meta Platforms CEO added $3.43 billion to his fortune on October 3, while Amazon founder Bezos saw his wealth drop by $2.6 billion. This shift in fortunes helped Zuckerberg climb to the second spot on the list of the world’s wealthiest individuals. His fortune is now $1 billion higher than that of Bezos.
The surge in Zuckerberg’s wealth came as Meta’s stock climbed by 1.7%, reaching a record price of $582.7 per share. Since the beginning of August, Meta shares have surged 23%, driven by stronger-than-expected second-quarter earnings and exciting announcements about the company’s future plans, particularly in AI chatbot technology.
In the second quarter, Meta’s revenue exceeded $39 billion, reflecting a 22% increase from the same period last year. This marked the fourth consecutive quarter in which the company achieved revenue growth exceeding 20%. Meta’s net profit also surged by 73%, totaling $13.47 billion. The company expects to generate between $38.5 billion and $41 billion in revenue for the third quarter.
As part of its strategic push, Meta is heavily investing in data centers and cloud computing, with Zuckerberg aiming to position the company as a leader in the artificial intelligence (AI) race. One of Meta’s long-term projects includes the recently launched Orion augmented reality glasses, demonstrating the company’s commitment to staying at the forefront of technological innovation.
Zuckerberg currently owns about 13% of Meta’s shares. His wealth has skyrocketed by $78 billion since the start of the year, marking the largest increase among the top 500 billionaires tracked by Bloomberg. Over the course of 2024, Zuckerberg has advanced four places in the global rich list.
Meanwhile, Elon Musk remains the world’s richest person, with a net worth of $256 billion. However, Musk’s wealth took a hit on October 3, as his assets decreased by nearly $6 billion, mainly due to a decline in Tesla’s stock value.
