Mark Zuckerberg Becomes World's Second-Richest Person

Meta CEO Mark Zuckerberg has climbed to the position of the world's second-richest person, surpassing former Amazon CEO Jeff Bezos.

According to the Bloomberg Billionaires Index, Zuckerberg's net worth hit $206.2 billion on Thursday, edging out Bezos, who holds a net worth of $205.1 billion.

The only person ahead of Zuckerberg now is Tesla's Elon Musk, with a lead of about $50 billion.

Zuckerberg's wealth has surged by $78 billion this year alone, thanks to his 13% stake in Meta.

This rise in fortune has outpaced all other members of the Bloomberg Billionaires Index, which tracks the world's 500 wealthiest people.

Meta's stock reached a record high on Thursday, closing at $582.77-a remarkable 68% increase from its January value of $346.29.

Zuckerberg's ascent reflects not only his growing personal wealth but also increasing investor confidence in Meta’s financial performance.

Wall Street has been optimistic about Meta throughout 2024, with the company consistently reporting earnings that have exceeded analyst expectations.

In July, Meta reported second-quarter revenues of $39.07 billion, a 22% increase year-over-year, marking the fourth consecutive quarter with over 20% revenue growth.