Mark Zuckerberg is now world’s second-richest person, surpassing Jeff Bezos

How has 2024 been for Mark Zuckerberg?

Mark Zuckerberg, who owns a 13% stake in the Menlo Park, California-based company, has seen his fortune grow $78 billion so far this year and has gained four spots this year on the wealth index. 

In 2024, Mark Zuckerberg’s net-worth has risen by $78 billion- more than any member of the of the 500 richest people who are tracked by the Bloomberg Index.

How is Meta performing at the stock market in 2024?

Meta shares have jumped almost 70% since the start of this year owing to increase in Mark Zuckerberg’s personal wealth alongside investor enthusiasm. Meta has repeatedly boasted of its artificial intelligence (AI) investments as a reason for its sales growth. 

This is a huge turnaround for the company which laid of 21,000 employees in late 2022 as Mark Zuckerberg instituted a major cost-cutting plan that investors feel helped the company rebound.

Is investor confidence in Meta constant now?

At present, Meta is spending billions of dollars on the virtual and augmented reality technologies, but investors continue to support the company whose core ad business remains healthy. Last week, Meta debuted its Orion AR glasses, which garnered positive reviews.