A key element behind Meta’s impressive stock performance are its AI products. At Meta Connect 2024, Zuckerberg outlined the company’s ambitious AI plans, and how Meta AI has become one of the most widely used digital assistants with 500 million monthly active users
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Mark Zuckerberg, the CEO of Meta, has entered an ultra-elite financial circle, becoming one of only four individuals worldwide to surpass the $200 billion mark. His personal fortune has now reached an impressive $201 billion, driven by Meta’s soaring stock value.
This latest achievement solidifies Zuckerberg’s influence in the tech industry, particularly as Meta makes significant strides in artificial intelligence (AI) and the metaverse.
Despite facing obstacles in recent years, his bold strategic decisions have revitalised his wealth, growing it sixfold in just two years, and making him the fourth wealthiest person on the planet, in a world of nearly 8 billion people.
The $200 billion club
Zuckerberg’s entry into the $200 billion wealth bracket marks a remarkable turnaround, positioning him as one of the richest people alive. His fortune, now valued at $201 billion according to the Bloomberg Billionaire Index, places him behind only Elon Musk, Jeff Bezos, and Bernard Arnault.
This surge in wealth follows a sharp rise in Meta’s stock prices, which have skyrocketed by nearly 60 per cent since the beginning of 2024. This remarkable growth underscores the strength of Meta’s latest business moves and has firmly secured Zuckerberg’s place among the world’s financial elite.
Zuckerberg’s massive increase in wealth can be largely attributed to Meta’s stellar performance this year. Meta, the parent company of Facebook, Instagram, WhatsApp, and Threads, has seen its stock price climb to over $560 per share, an 85 per cent increase compared to the previous year.
Investor confidence has surged due to Meta’s intense focus on artificial intelligence and its growing presence in augmented reality (AR) and the metaverse. These bold ventures have made Meta a major player in the tech space and have pushed its stock to new heights.
AI and Metaverse push Meta’s stock upwards
A key element behind Meta’s impressive stock performance is its emphasis on AI. At the recent Meta Connect 2024 event, Zuckerberg outlined the company’s ambitious AI plans, highlighting Meta AI as one of the most widely used digital assistants with 500 million monthly active users.
Additionally, Meta’s previous investment in the metaverse, once seen as a gamble that caused a significant drop in Zuckerberg’s wealth in 2022, is now beginning to pay off. The company’s shift towards innovative products like the Orion augmented reality glasses signals its intent to go beyond traditional social media and establish itself as a leader in the metaverse.
Zuckerberg’s rapid rise to $201 billion is astonishing, especially considering his wealth has grown nearly six times in under two years. A large portion of this fortune comes from his 13 per cent stake in Meta, which equates to around 345.5 million shares.
What’s next for Zuckerberg?
In 2024 alone, Zuckerberg’s net worth has swelled by a record-breaking $73.4 billion, making him the biggest winner among tech executives. While others in the industry, such as Nvidia’s Jensen Huang and Oracle’s Larry Ellison, have also seen their fortunes rise, Zuckerberg’s climb remains unparalleled.
Although reaching the $200 billion mark is a significant achievement, Zuckerberg shows no signs of slowing down. His future plans for Meta indicate that the company is far from reaching its peak.
With continued investments in AI, augmented reality, and the metaverse, Zuckerberg is positioning Meta to dominate future technological revolutions. There is still untapped potential in markets such as the European Union, and Meta’s ongoing innovations suggest that the company will continue to shape the future of technology for years to come.