Mark Zuckerberg Becomes Youngest Billionaire in Modern History, Worth $211 Billion
Mark Zuckerberg, the 40-year-old founder and CEO of Meta, has made history as the youngest billionaire to surpass a wealth valuation of $211 billion, according to Bloomberg’s billionaire index.
Zuckerberg’s net worth surged past $200 billion for the first time this month, driven by a 72% increase in Meta’s stock (META) since the start of the year. On Friday, Meta’s stock rose 2.26% to a record-breaking $595.94.
“We’re almost at 500 million monthly active users, and we haven’t even launched in some of the bigger countries yet,” Zuckerberg said at the Meta Connect 2024 event on September 25, highlighting the growth of Meta AI.
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This milestone cements Zuckerberg’s position as the second-richest individual on earth, surpassing Jeff Bezos ($209 billion) and Bernard Arnault ($193 billion), and trailing only behind Elon Musk ($263 billion).
“Market fundamentals highlighted a resurgence of faith in the business and the company’s artificial intelligence future,” said analysts, noting Meta’s quarterly profits have tripled since 2023.
However, concerns have been raised about Meta’s reliance on advertising spending from Chinese merchants, particularly Temu and Shein, which account for 10% of the company’s yearly revenue.
As Zuckerberg’s wealth continues to grow, so does his influence in the tech industry. “Meta AI is expected to surpass all other assistants in terms of usage worldwide,” he stated.
Other tech moguls, including Larry Ellison and Jensen Huang, have also seen significant increases in their net worth this year, with $55.9 billion and $63.5 billion, respectively.