News Today: Mark Zuckerberg, CEO and founder of Meta, Facebook’s parent company, has seen a significant increase in his wealth overnight. According to recent reports, he has gained $10 billion within a 24-hour period, propelling him to a higher position on the list of the world’s wealthiest individuals. Zuckerberg’s newfound wealth has also been the subject of recent media attention, as he left behind Mukesh Ambani in the rich list.
Meta CEO and founder Mark Zuckerberg has achieved significant success, with his wealth experiencing an exponential increase. In a single day, his net worth rose by a staggering $10.2 billion.
Following strong performance from Facebook’s payment division, Mark Zuckerberg’s ranking on the Bloomberg Billionaires Index has climbed. The company’s shares rose by over 14%, resulting in an overnight increase of more than $10 billion to Zuckerberg’s personal wealth. He now holds the 12th spot on the index of richest person in the world, surpassing Mukesh Ambani.
Mukesh Ambani Got A Shock
Last Thursday, Mark Zuckerberg’s net worth rose by $10.2 billion, while Mukesh Ambani, the chairman of Reliance Industries and Asia’s wealthiest industrialist, experienced a loss of $4.7 billion. This loss caused Ambani to drop a rank on the list of the world’s wealthiest people, with Zuckerberg surpassing him in net worth. According to Bloomberg’s Billionaire list, Mark Zuckerberg currently holds the 12th position with a net worth of $87.3 billion, whereas Mukesh Ambani has slipped to the 13th position with a net worth of $82.4 billion.
Notably, Zuckerberg’s net worth has increased by $41.7 billion this year alone, as compared to November 2022 when his wealth was estimated at $34.6 billion. Therefore, his current net worth of $87.3 billion represents a significant increase in just a few months.
About Meta Challenge
Meta has encountered difficulties as a result of its costly investment in the Metaverse and the deceleration of the technology sector. By November 2022, its assets had declined to $35 billion, prompting Meta to reveal intentions of laying off around 10,000 workers from March to May 2023, in addition to the 11,000 already dismissed in November 2022.
Despite the challenges, Zuckerberg’s dedication to the Metaverse remains unwavering. He reaffirmed this commitment during the first quarter earnings call of his company, refuting a narrative that they are shifting away from their Metaverse vision. According to Zuckerberg, they have been working on both artificial intelligence and the Metaverse for years, and they will continue to focus on both in the future. “We will keep going,” he added.
Meta, the parent company of Reality Labs, which comprises Meta’s AR and VR divisions as well as its Metaverse initiative, has reported an operating loss of $4 billion. Despite this setback, CEO Mark Zuckerberg has emphasized that Meta remains committed to investing in both artificial intelligence and the Metaverse. The company has not commented on any plans to cut jobs at this time.
American Industrialists Are On Fire
The Bloomberg Billionaires Index features several American industrialists among its top 10 billionaires. However, the current leader of the list is French businessman Bernard Arnault, followed by Elon Musk in second place and Jeff Bezos of Amazon in third place.
The list of wealthiest people in the world includes several American industrialists, such as Jeff Bezos from Amazon who ranks third, Elon Musk who ranks second, Bill Gates, Warren Buffett, Larry Ellison, Steve Vollmer, Larry Page, and Sergey Brin. The only French industrialist on the list is Francoise Bettencourt Meyers, who ranks tenth. Therefore, out of the top ten wealthiest individuals, eight are from America and two are from France.