Mark Zuckerberg has officially claimed the title of the world’s second-richest person for the first time, surpassing Jeff Bezos on Thursday as shares of Meta Platforms Inc. continue their upward trajectory.
Zuckerberg’s significant investment in the metaverse, initially viewed as a misstep, has started to yield impressive returns. His net worth has soared to an impressive $206.2 billion, placing him $1.1 billion ahead of Amazon’s Bezos and nearly $50 billion behind Tesla’s Elon Musk.
Meta’s stock has experienced a remarkable 23% increase following a strong second-quarter sales report, where the company also highlighted its advancements in large language models that drive AI chatbots. The stock reached a record high of $582.77 on Thursday.
To solidify its position in the competitive AI landscape, Meta has invested heavily in data centers and computing capabilities. The company is also making strides with long-term projects, such as the recently launched Orion augmented reality glasses.
Owning a 13% stake in Meta, Zuckerberg’s fortune has increased by $78 billion this year, marking the highest gain among the world’s 500 wealthiest individuals tracked by the Bloomberg Billionaires Index. The 40-year-old co-founder and CEO has moved up four spots in the wealth rankings this year.
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