Global wealth rankings have witnessed a shift as Mark Zuckerberg, the founder and CEO of Meta, surpasses Amazon's Jeff Bezos to become the world's second-richest person, following closely behind Elon Musk. According to the latest figures, Zuckerberg's net worth has climbed to $206.2 billion, edging out Bezos's $205.1 billion.
The remarkable rise in Zuckerberg's wealth is largely attributed to Meta's stock performance, which saw an impressive 1.74% increase on Thursday, closing at a record high of $582.77. This represents a significant surge of approximately 68% from the start of the year when shares were priced at $346.29.
Key to Meta's bullish market performance is its second-quarter earnings, which surpassed expectations, along with its aggressive push into the development of AI large language models. These factors have contributed to a 23% rise in Meta's shares, further augmenting Zuckerberg’s wealth.
Zuckerberg's ascent in the wealth rankings highlights his 13% ownership in Meta, which has seen his fortune swell by $78 billion this year alone, marking the most substantial increase on the billionaire list.
Born in 1984 in White Plains, New York, Zuckerberg is known for establishing the social network giant Facebook, which he founded in 2004. He earned the nickname "Second Gates" after Bill Gates and was awarded an honorary Doctor of Law degree from Harvard University in 2017.
Elon Musk remains the wealthiest individual globally, with an estimated net worth around $256 billion, as of the latest reports.