Zuckerberg as Second-Richest Person

Mark Zuckerberg, the CEO of Meta Platforms, has officially overtaken Jeff Bezos to become the world’s second-richest person. This milestone was achieved as Zuckerberg’s net worth soared to an unprecedented $206.2 billion, according to the Bloomberg Billionaires Index¹. This leap places him just behind Elon Musk, the CEO of Tesla and SpaceX, who remains the world’s wealthiest individual.

Zuckerberg’s rise in wealth is largely attributed to the significant increase in Meta’s stock value. The company’s shares have surged by 23% following better-than-expected sales in the second quarter and advancements in artificial intelligence technology. Meta has been heavily investing in data centers and computing power to establish a strong foothold in the AI industry. Additionally, the company has been progressing with other long-term projects, such as the development of Orion augmented reality glasses, which were introduced last month.

The 40-year-old Zuckerberg, who co-founded Meta (formerly Facebook), owns approximately 13% of the company. His fortune has grown by an astounding $78 billion this year alone, making him the individual with the highest increase in wealth among the world’s 500 richest people tracked by Bloomberg. This year, Zuckerberg has climbed four spots on the wealth index, reflecting his significant financial gains.

Jeff Bezos, the founder of Amazon, now holds the third position with a net worth of $205.1 billion. Despite the slight drop in his ranking, Bezos remains one of the few individuals with a net worth exceeding $200 billion. Alongside Musk and Zuckerberg, Bezos continues to be a dominant figure in the global wealth landscape.

Meta’s recent success can be attributed to its strategic focus on AI and other innovative technologies. The company’s commitment to these areas has not only boosted its stock value but also solidified its position as a leader in the tech industry. As Meta continues to expand its capabilities and explore new frontiers, Zuckerberg’s wealth is likely to grow even further.

For more details, you can read the original article on Yahoo Finance.