Home News Mark Zuckerberg’s Rise as Fifth Richest Billionaire

Mark Zuckerberg’s Rise as Fifth Richest Billionaire

68
0

Mark Zuckerberg, the CEO of Meta Platforms, has achieved a remarkable milestone by becoming the fifth richest person globally. This achievement comes on the heels of Meta’s soaring share price, which has propelled Zuckerberg’s net worth to unprecedented heights throughout this year.

Thus far in 2024, Zuckerberg has witnessed an astounding $14.3 billion increase in his net worth. Consequently, Bloomberg’s Billionaire Index now places him ahead of former Microsoft CEO Steve Ballmer and just behind Microsoft co-founder Bill Gates.

Zuckerberg, who currently holds a 13% stake in Meta, is set to witness even more substantial growth in his net worth in the coming days. Such growth is expected due to the recent surge in shares of the social media giant that he established back in 2004 while studying at Harvard University.

Following the announcement of Meta’s inaugural dividend and a significant rise in company revenues, Meta’s shares experienced an impressive 15% increase in post-market trading on Thursday. Consequently, Meta’s market capitalization soared by over $140 billion, reaching an impressive $1.17 trillion.

For the year 2024 alone, Meta’s shares have already climbed by 14%. Over the past twelve months, these shares have surged by a staggering 109%. Since Facebook’s initial public offering in 2012, stock in the California-based company has skyrocketed by an incredible 933%. Worth noting is that Facebook rebranded itself as Meta Platforms in October 2021.

Notably, Zuckerberg, who first became the world’s youngest self-made billionaire at the age of 23 in 2007, will also receive an annual dividend of $700 million through his stake in Meta.

With his exponential rise in wealth and effective control over one of the most influential social media companies worldwide, Mark Zuckerberg solidifies his position as a prominent figure in the business and technology sectors. The continued success of Meta Platforms further cements his reputation as a visionary entrepreneur.

Zuckerberg Joins the Ranks of Tech Billionaires

Mark Zuckerberg, the 39-year-old billionaire hailing from White Plains, New York, has experienced impressive financial growth, propelling him into the upper echelons of Bloomberg’s Billionaire Index. This index is becoming increasingly dominated by tech magnates from the United States.

With a staggering net worth of $142 billion, Zuckerberg finds himself trailing just behind Elon Musk, CEO of Tesla ($205 billion), Bernard Arnault, CEO of LVMH ($185 billion), Jeff Bezos, the founder of Amazon ($144 billion), and Bill Gates, the founder of Microsoft ($144 billion) on the illustrious list of the world’s wealthiest individuals.

Remarkably, only two individuals in the top 10—luxury goods magnate Bernard Arnault and Warren Buffett, CEO of Berkshire Hathaway—have amassed their fortunes outside the tech industry. Out of this exclusive group, Arnault is the sole representative from a country outside the United States.

Zuckerberg’s net worth has experienced rapid growth, catapulting him to the forefront of individuals who have witnessed exponential increases in their wealth during this year. Notably, he has surpassed Gautam Adani, the Indian steel magnate, and Jensen Huang, the CEO of Nvidia.

While Zuckerberg’s wealth continues to soar, Elon Musk, currently ranked as the world’s richest person, has endured a significant decrease in his net worth throughout 2024. Musk’s fortune has plummeted by a staggering $23.6 billion due to a sharp 24% decline in Tesla’s share price. It is important to note that Musk still retains a 13% stake in Tesla.

In alignment with billionaires such as Warren Buffett and Bill Gates, Mark Zuckerberg has made a pledge to donate 99% of his amassed wealth.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

51  +    =  59