Mark Zuckerberg Overtakes Jeff Bezos to Become the World's Second-Richest Person
Mark Zuckerberg, CEO of Meta, has surpassed Jeff Bezos to become the second-richest person in the world, according to the Bloomberg Billionaires Index.
Zuckerberg's fortune has reached $206.2 billion, exceeding Bezos' $205.1 billion, the former CEO of Amazon. However, he still trails behind Elon Musk, CEO of Tesla, with a difference of around $50 billion.
Zuckerberg's rapid rise in the rankings is attributed to the surge in Meta's stock value, of which he owns 13%. Since the beginning of the year, his fortune has increased by $78 billion, more than any other member of the Bloomberg 500 richest people list. Meta's shares reached a record high on Thursday, September 3, at $582.77, a 68% increase since January.
This progress reflects Meta's impressive financial performance in 2024, driven by quarterly profits that surpassed analysts' expectations.
Meta's success is partly attributed to its investments in artificial intelligence, which have improved its online advertising system.
After facing a setback in 2021 due to Apple's iOS privacy changes, the company has bounced back, thanks in part to advertising campaigns from Chinese retailers like Temu and Shein.
In parallel, Zuckerberg launched a drastic cost-cutting plan in 2022, resulting in the elimination of 21,000 jobs at Meta, which reassured investors while supporting the relaunch of the company's advertising business.
