The net worth of Meta’s Chief Executive Officer, owner of social media platform, Facebook, Mark Zuckerberg, has grown by $64.5 billion in the last seven months.
According to estimations by Bloomberg, the 39-year-old billionaire’s fortune now stands at a whopping $110 billion.
The rise began on January 1, 2023, with Zuckerberg’s net worth resting at $45.6 billion, and has since then skyrocketed by about 141 per cent.
The laudable performance of Meta’s stock, which has delivered significant gains to investors throughout the year, has been said to be the driving force behind this surge.
A major contributing factor to the stock’s impressive trajectory has been the tangible items that have propelled it to a remarkable 150 per cent year-to-date increase. Starting the year at $124.74, Meta’s stocks have soared to a substantial $297.17 as of July 21, 2023.
In addition to the stock’s bullish performance, Zuckerberg’s latest offering, Threads, has generated significant buzz and excitement across the internet.
Although sign-up demand has moderated from its initial surge, the product’s ability to engage millions of users while competing with established rivals has been noteworthy.
The financial community on Wall Street has taken note of Threads’ potential, with renewed hopes in raising their 2024 profit estimates for Meta in anticipation of the product’s monetization.
Notably, Zuckerberg’s collaboration with Microsoft in introducing Llama, a next-generation open-source machine language model, has also played a pivotal role in Meta’s stock surge.
The company’s foray into artificial intelligence adoption, particularly through the partnership with Microsoft, has reverberated positively across the global market.
