Mark Zuckerberg’s Net Worth Overtakes Jeff Bezos as He Becomes World’s Second Richest Person

Mark Zuckerberg has overtaken Jeff Bezos to become the world's second-richest person, according to the Bloomberg Billionaires Index.

As of October 3, 2024, Zuckerberg's net worth reached an impressive $206.2 billion, surpassing Bezos' $205.1 billion. This massive increase in Zuckerberg's wealth is largely attributed to his 13% stake in Meta Platforms, formerly known as Facebook. Throughout 2024, Meta has consistently reported quarterly earnings that exceeded analyst expectations, leading to a substantial rise in its stock price.

Zuckerberg's fortune has grown by $78 billion this year alone, marking the largest increase among the 500 wealthiest individuals tracked by the Bloomberg Index.

The surge in Meta's stock, which closed at a record high of $582.77, reflects investor confidence in the company's robust performance and strategic investments in artificial intelligence.

These AI advancements have notably enhanced Meta's online advertising platform, contributing to a 22% increase in second-quarter sales to $39.07 billion.

Despite ongoing investments in virtual and augmented reality technologies for the metaverse, investors have remained supportive as long as Meta's core advertising business thrives. This financial success shows Zuckerberg's ability to navigate challenges and capitalize on opportunities within the tech industry, solidifying his position just behind Tesla CEO Elon Musk, who remains the world's richest person with a net worth of approximately $256 billion.