Meta CEO Mark Zuckerberg has now reached a net worth of $200 billion, joining the ranks of the world's wealthiest individuals. According to Bloomberg's Billionaire Index, Zuckerberg now stands alongside Amazon founder Jeff Bezos and Tesla CEO Elon Musk.
Elon Musk remains the richest individual with a net worth of $265 billion, followed by Jeff Bezos with $216 billion. The majority of Zuckerberg's fortune comes from his 13% stake in Meta, as per a July 2024 filing. Meta, the parent company of Facebook, Instagram, and WhatsApp, generated $134.9 billion in revenue in 2023 and has around four billion monthly users.
In 2024, Zuckerberg's net worth increased by $71.8 billion, placing him ahead of tech giants like Oracle co-founder Larry Ellison and former Microsoft CEOs Bill Gates and Steve Ballmer. His fortune is largely tied to his 13% stake in Meta, amounting to about 345.5 million shares.
The significant rise in Zuckerberg's wealth is attributed to Meta stock's nearly 60% surge since January, reaching record highs of over $560 per share. Meta's valuation has driven strong investor demand, with the company trading at about 24 times forward earnings comparable to its 10-year average and slightly below the Nasdaq 100's 26-times ratio.
During the Meta Connect 2024 event, Zuckerberg announced that Meta AI is on track to become the world's most widely used assistant. "We're nearing 500 million monthly active users, and we haven't even launched in some of the major markets like those in the European Union," he said.
Zuckerberg isn't the only tech leader to see substantial gains in 2024. Nvidia CEO Jensen Huang and Oracle co-founder Larry Ellison have also experienced significant wealth increases this year, with their net worths growing by $62.2 billion and $58.6 billion, respectively.
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