Mark Zuckerberg now fourth richest in the world: Net worth crosses $201 billion
Meta founder and CEO Mark Zuckerberg's net worth has skyrocketed almost sixfold to $201 billion in less than two years after the company's shares surged to a record high. According to a Bloomberg report, Zuckerberg now holds the fourth spot on the world's 500 richest people list, trailing behind Elon Musk, Jeff Bezos, and Bernard Arnault.
This significant increase in Zuckerberg's wealth marks the first time he has crossed the $200 billion mark. This achievement can be attributed to his bold investment in the metaverse, which initially faced setbacks. In 2022, his net worth plummeted by over $100 billion due to the perceived failure of this venture.
During the same period, Meta underwent a rebranding, transitioning from Facebook, and struggled with short-form video content, allowing competitors like TikTok to gain momentum. However, the company's fortunes began to turn around with the introduction of Orion augmented reality glasses.
Analysts noted that Meta's hardware advancements over the past five years, coupled with progress in artificial intelligence, signify its evolution from a mere social media platform to a prominent player in the Metaverse. JMP Securities analysts mentioned in a recent investor's note that Orion showcases Meta's transformation.
Despite these advancements, Meta had to make some tough decisions, including a 25% reduction in its global workforce. The company also doubled down on AI-generated creators who engage directly with their online followers.
To enhance its stock performance, Meta initiated a $50 billion share buyback program and declared its first-ever quarterly dividend. These strategic moves demonstrate Meta's commitment to driving shareholder value.
For more information, visit: Mark Zuckerberg, Meta, Facebook.
