Meta Platforms CEO Mark Zuckerberg is now the 5th wealthiest individual on the planet following a rise in Meta’s share rate that has actually seen his net worth boost more than any other person this year.
In 2024 up until now, Zuckerberg has actually currently seen his net worth boost by $14.3 billion, in motions that have actually put him in 5th put on Bloomberg’s Billionaire Indexahead of previous Microsoft CEO Steve Ballmer and behind Microsoft co-founder Bill Gates.
Zuckerberg, who owns a 13% stake in Meta
META,
is now set to see his net worth boom even further over the coming days, on the back of a rise in shares in the social networks business he initially established in 2004 while a trainee at Harvard University.
Shares in Meta increased 15% in post-market trading on Thursday following the Facebook owner’s choice to begin state its very first dividend on the back of a sharp boost in the business’s profits.
The rise in Meta’s share cost in out-of-hours trading on Thursday saw the business’s market cap boost by more than $140 billion, to $1.17 trillion.
Meta shares have actually increased by 14% in 2024 and by 109% over the previous 12 months, with stock in the California business up 933% because Facebook’s going public in 2012. Facebook altered its name to Meta Platforms in October 2021.
Zuckerberg, who ended up being the world’s youngest self-made billionaire aged 23 in 2007, is likewise set to get $700 million a year in dividends from Meta through his stake in the business.
The boosts have actually seen the 39-year-old, who was born in White Plains, New York, ascend the ranks of Bloomberg’s Billionaire Index, which is now progressively controlled by U.S. tech billionaires.
With a net worth of $142 billion, Zuckerberg now sits behind Tesla
TSLA,
CEO Elon Musk ($205 billion), LVMH
MC,
CEO Bernard Arnault ($185 billion), Amazon
AMZN,
creator Jeff Bezos ($144 billion, and Microsoft
MSFT,
creator Bill Gates ($144 billion) on the list of the world’s wealthiest people.
Simply 2 people noted on the leading 10– high-end items magnate Bernard Arnault and Berkshire Hathaway
BRK.B,
CEO Warren Buffett– made their cash outside the tech market, while just the LVMH creator is from outside the U.S.
The hectic development in Zuckerberg’s net worth saw him top the ranks of those who have actually made the sharpest boosts in their wealth this year, ahead of Indian steel mogul Gautam Adani and Nvidia
NVDA,
CEO Jensen Huang.
Zuckerberg’s bulging net worth comes as the world’s wealthiest individual, Elon Musk, has actually seen his wealth stop by more than any other person in 2024 up until now, in seeing his net worth reduction by $23.6 billion in 2024, following a sharp 24% drop in Tesla’s share rate. Musk presently owns a 13% stake in Tesla.
Zuckerberg, together with billionaires consisting of Warren Buffett and Bill Gates, has actually pledged to distribute 99% of his wealth.