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Breaking News: Mark Zuckerberg Now World’s Third-Richest Person—Meta Rally Adds $11 Billion To Fortune.Wow!!

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Breaking News: Mark Zuckerberg Now World’s Third-Richest Person—Meta Rally Adds $11 Billion To Fortune.Wow!!

 

TOPLINE Facebook cofounder and Meta CEO Mark Zuckerberg was rewarded handsomely by Meta stock’s post-earnings rally, getting a $11 billion boost to his massive fortune.

 

Breaking News: Mark Zuckerberg Now World’s Third-Richest Person—Meta Rally Adds $11 Billion To Fortune.Wow!!

 

KEY FACTS

Zuckerberg’s net worth jumped from $167 billion to $178 billion on Thursday as Meta’s share price rose by 6%, its second-biggest gain of the last year (most of Zuckerberg’s net worth comes from his 13% stake in Meta).

 

The bump sent Zuckerberg from the world’s fifth-wealthiest person to its third-richest person, according to Forbes’ real-time billionaires tracker, surpassing Europe’s richest man, LVMH chairman Bernard Arnault ($177 billion), and Oracle chairman Larry Ellison ($172 billion).

 

Zuckerberg now trails just fellow Americans in Tesla CEO Elon Musk ($237 billion net worth) and Amazon chairman Jeff Bezos ($205 billion) in riches.

Breaking News: Mark Zuckerberg Now World’s Third-Richest Person—Meta Rally Adds $11 Billion To Fortune.Wow!!

 

SURPRISING FACT

Zuckerberg is more than three times as rich as he was in September 2022, when his fortune fell to below $60 billion as Meta stock flailed, knocking him out of Forbes’ ranking of the 10 richest people for the first time since 2015.

 

Breaking News: Mark Zuckerberg Now World’s Third-Richest Person—Meta Rally Adds $11 Billion To Fortune.Wow!!

 

KEY BACKGROUND

His fortune recovered as Meta’s stock did, with shares up nearly 500% from their 2022 bottom, as investors flocked back to the stock as the company recovered from a dreadful four-quarter stretch of double-digit annual profit declines. Meta is the sixth-most valuable company in the world at a $1.3 trillion market capitalization. Bezos, Musk and Zuckerberg all own unusually large individual stakes in massive public companies, with Bezos owning about 9% of Amazon, Musk roughly 12% of Tesla and Zuckerberg about 13% of Meta. Thursday’s rally came after Meta easily topped analyst forecasts for both profits and sales and Zuckerberg calmed fears about runaway expenses tied to artificial intelligence development.

 

BIG NUMBER
About $691 million. That’s how much Zuckerberg is set to make annually from Meta’s quarterly cash dividend of $0.50 first instituted in March. That’s chump change compared to his 12-figure paper fortune, but it’s nice spending money for the 40-year-old.

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