As per the Bloomberg Billionaire Index, Zuckerberg has entered the most exclusive club of only Bezos of Amazon, Musk of Tesla.
Yet, Meta CEO Mark Zuckerberg has now amassed $200 billion in his personal wealth – putting him among the global billionaires. Facebook Inc’s Mark Zuckerberg is now in a league with Amazon.com Inc’s Jeff Bezos and Tesla Inc’s Elon Musk through the Bloomberg Billionaire Index.
There is slight change in the billionaires’ list, Elon Musk headed the list with a net worth of $265 billion, Jeff Bezos comes second with $216 billion. Most of Zuckerberg’s wealth originates from owning 13% of Meta, according to the report filed in July 2024.
Free attribution: Meta which owns Facebook, Instagram, and WhatsApp, for instance, recorded $134.9 billion in the year 2023, and has approximately four billion monthly users. The same year in 2024, Zuckerberg’s wealth have grown by $71.8 billion and ranked him over some of the leading tech titans such as Larry Ellison of Oracle, Bill Gates and Steve Ballmer of Microsoft. His investment is largely dependent on owning Meta company shares worth about 13% which totals to 345.5million.
It really means that Meta stock has gone nearly 60% higher since January and its shares are now touching over $560, helping Zuckerberg to add a record amount to his riches. Its high valuation has caused investors to be eager to own, Meta’s P/s of 24 times forward earnings comparable to its 10-year average and slightly below Nasdaq 100’s 26 times. At Meta Connect 2024, Zuckerberg shared that currently, Meta AI is on course to become the world’s number one AI assistant. “At the moment, we are approaching half a billion of monthly active users, and we haven’t even started in some of the key locations like those in the European Union”, he said.
Other leaders in the tech sector also noted significant improvements in the course of the same year, in Zuckerberg’s case it was in 2024. Jensen Huang Nvidia’s CEO has also seen his worth swelling by $62.2 billion this year and Larry Ellison co-founder of Oracle saw his worth rising by $58.6 billion this year. Investor sentiment has boosted the value of Meta’s stock, at the moment it is trading around 24 times forward earnings.
While this is the least of the Nasdaq 100’s average of 26 times, it still shows that Meta is essential for market interest in its future. At the recent Meta Connect 2024 conference, Zuckerberg shared the company’s bold AI vision. It is forecasted that Meta AI will be one of the most popular DAs, having almost 500 million monthly active users– even though the product is launched in some key regions such as the European Union yet.
And the market value of the company has grown greatly over the years as Zuckerberg hit the $200 billion mark in 2024among the growing list of technology gurus whose wealth has increased exponentially in the same period. For instance, Nvidia boss Jensen Huang had upped his fortune by $62.2 billion as Oracle co-founder Larry Ellison was richer by $58.6 billion.
The financial recovery to new heights is especially thank to after the slowdown in 2022 after his bad metaverse investments which brought down his net worth more than by $100 billion. That said, the action plan spearheaded by Mark Zuckerberg and based on new products such as Orion augmented reality glasses has turned Meta from a social network into the company relevant for the metaverse and Artificial Intelligence future.
References:
- https://www.businesstoday.in/technology/news/story/new-member-of-200-billion-club-meta-ceo-mark-zuckerberg-becomes-4th-richest-person-in-the-world-448095-2024-09-30
- https://www.ndtv.com/feature/meta-ceo-mark-zuckerberg-enters-200-billion-club-now-3rd-on-the-rich-list-6681024
- Also Read : https://thenewzzy.com/mark-zuckerberg-installs-a-sculpture-of-priscilla/
