Mark Zuckerberg is Now the 2nd Richest Person in the World

Mark Zuckerberg has now become the second richest person in the world, overtaking Amazon’s Jeff Bezos with a total net worth of $206.2 billion. This big increase happened in 2024, mainly because Meta Platforms Inc.’s stock price went up by 70%.

The Bloomberg Billionaires Index shows that Zuckerberg’s wealth not only beats Bezos’s $205.1 billion but is also more than Kuwait’s GDP of about $160.4 billion.

Zuckerberg’s recent wealth boost follows a tough period for Meta, which had to let go of 21,000 employees in late 2022 as part of a plan to spend less money. Although these cuts were initially questioned, they have helped regain the trust of investors and improved Zuckerberg’s ranking among billionaires.

Meta’s success in 2024 has been a key factor in Zuckerberg’s financial growth. The company has focused on developing technologies like artificial intelligence (AI), augmented reality (AR), and virtual reality (VR), which are starting to pay off. The ongoing success of Meta’s digital advertising business also supports the company financially as it explores new technologies.

Investing in better infrastructure, such as more data centres and improved computing capabilities, has been essential for Meta to stay competitive in the fast-growing AI field. The release of the Orion augmented reality glasses highlights Meta’s dedication to combining real-world and digital experiences.

At 40 years old, Zuckerberg’s rise in wealth reflects his long-term goals for Meta. He aims to build a lasting legacy and position Meta as a leader in technology, especially in AI. His commitment to exploring new technologies has strengthened investor confidence.

Zuckerberg’s approach to leading Meta focuses on innovation and taking significant risks to shape the future of the digital world.