In a significant development, Meta CEO Mark Zuckerberg has overtaken Amazon founder Jeff Bezos to become the second-richest person in the world. According to the latest data released by the Bloomberg Billionaires Index, Zuckerberg is now the second wealthiest person globally, with his net worth soaring to $206.2 billion in 2024, surpassing Bezos' $205.1 billion.
About the Bloomberg Billionaires Index
While Bloomberg's index named Zuckerberg the second-richest person in the world, it also revealed details about Tesla and SpaceX CEO Elon Musk's wealth, who remains the richest person globally. Musk's net worth stands at a staggering $256 billion, approximately $50 billion higher than Zuckerberg’s.
The rise in Zuckerberg's wealth
Zuckerberg's climb to the second-richest position comes after his wealth increased by $78 billion since the start of 2024—more than any other individual tracked by Bloomberg's index of the 500 richest people. Meta’s shares also hit a record high of $582.77, marking a 68% surge since January when the stock was trading at $346.29.
What led to Meta's strong financial performance
Meta’s strong financial performance and investor confidence are largely attributed to the company’s aggressive investments in artificial intelligence (AI) and augmented reality (AR). These initiatives have revived the company's prospects, which had faced a major setback due to its earlier focus on the metaverse, wiping out over $100 billion from Zuckerberg's net worth in 2022.
However, Zuckerberg has since shifted Meta’s focus to AI innovations, leading to a remarkable turnaround. The company has invested heavily in building advanced data centers and pioneering new technologies, positioning itself as a leader in the global AI race. Its AI assistant, Meta AI, is projected to become the most widely used AI tool, with nearly 500 million monthly active users.
Adding to Meta’s forward momentum is its venture into AR with products like the recently launched Orion augmented reality glasses.
