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Mark Zuckerberg has become world's second-richest person, earned Rs 639600 crore in just...
He keeps on creating new approaches and strategies in a saturated market, his financial performance is of interest to investors and financial gurus
Updated : Oct 04, 2024, 12:15 PM IST
 "Mark Zuckerberg has become world's second-richest person, earned Rs 639600 crore in just...")
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Bloomberg Billionaires Index has revealed that Meta CEO Mark Zuckerberg has displaced Jeff Bezos to become the second-richest person in the world with an estimated worth of USD 206.2 billion. This great accomplishment puts Zuckerberg USD 1.1 billion higher than the ex-CEO of Amazon, who currently ranks the third-richest person in the world with USD 205.1 billion. Elon Musk is still the richest person, with Zuckerberg being behind him by almost USD 50 billion.
Zuckerberg’s financial rise in 2024 has been phenomenal, with his wealth rising by USD 78 billion (Rs 639600 crore), which is higher than the rise in wealth for any other billionaire in the index. This increase is due to a sharp increase in Meta’s stock price, which has risen by almost 70% this year and recently hit an all-time high of USD 582.77. The company has made a strong recovery thanks to its AI and new developments in online advertising after a difficult period for Meta.
The upturn comes after a volatile period for Meta, which saw the company lay off about 21,000 workers in the fourth quarter of 2022 due to cost-cutting measures proposed by Zuckerberg. This plan has been attributed to helping the company bounce back and regain its competitive power.
Besides, AI is another area of focus for Meta; the company is also actively working on developing VR and AR technologies and has recently released Orion AR glasses, which early users have well received. Still, such ambitious projects make investors feel confident in Meta’s primary advertising platform, which remains highly profitable regardless of changing market conditions.
Zuckerberg’s rise to the second-richest man in the world also shows not only the business savvy of the Facebook founder but also the new generation of wealth creation among technology moguls. While he keeps creating new approaches and strategies in a saturated market, his financial performance interests investors and financial gurus.
