Mark Zuckerberg Poised to Become World's Richest Person in 2024

Mark Zuckerberg may soon be world's richest person. In 2024, he earned...

As per the Bloomberg Billionaires Index, Mark Zuckerberg's net worth has grown by $51 billion this year to reach $179 billion. At present, the tech boss is at the fourth place in the rich list and follows Tesla's Elon Musk (worth $248 billion), Amazon's Jeff Bezos (worth $202 billion), and LVMH's Bernard Arnault (worth $180 billion). Mark Zuckerberg started the year in sixth place but ranked third just last week. The Meta chief has been outpacing Elon Musk and Jeff Bezos in wealth accumulation this year as his $51 billion gain this year surpasses their respective increases of $19 billion and $25 billion. Mark Zuckerberg founded Facebook in 2004 when he was 19 and took it public in 2012 at age 28. Meta now stands as the world's seventh-largest public company with a $1.3 trillion market capitalization. Between September 2021 and November 2022, Meta stock tanked by over 75% which resulted in a massive lost in his net worth which reached just $35 billion. But the stock has soared more than fivefold since then and 65% in the past year. At present, it is at record levels of above $500 as investors bet on Meta's AI decisions.

Meet man, who could become richest person on Earth, runs Rs 1485700 crore company, not Elon Musk, Jeff Bezos, Ambani

Mark Zuckerberg who is the CEO of Meta Platforms, has rapidly climbed the ranks of the world's richest people, with a chance of becoming the wealthiest for the first time. Meta is the parent company of popular platforms like Facebook, Instagram, Threads, and WhatsApp. According to the Bloomberg Billionaires Index, Zuckerberg's net worth has grown by an impressive $51 billion this year, reaching $179 billion. Currently, Zuckerberg ranks fourth among the richest individuals, behind Tesla's Elon Musk (worth $248 billion), Amazon's Jeff Bezos (worth $202 billion), and Bernard Arnault of LVMH (worth $180 billion). Although he started the year in sixth place, he briefly moved into third position, overtaking Arnault last week. While Musk and Bezos still have a considerable lead over him, their fortunes could change quickly due to the volatility in the tech industry. For example, Musk's wealth dropped to $164 billion as recently as April, and Bezos' worth was slightly lower at the start of this year than Zuckerberg's current fortune. A few rough days for Tesla or Amazon, along with good news for Meta, could allow Zuckerberg to close the gap. Meta, Tesla, and Amazon are all giant U.S. tech companies, so the fortunes of Zuckerberg, Musk, and Bezos tend to rise and fall together. However, unexpected events like a bad earnings report, a lawsuit, or an antitrust investigation could shift the balance. Large donations by Musk or Bezos to charity could also push Zuckerberg ahead, much like how Warren Buffett, who has donated over half of his wealth, isn't the richest man in the world despite his $300 billion fortune. Zuckerberg's wealth has increased far more than that of Musk and Bezos this year, with gains of $51 billion compared to their $19 billion and $25 billion, respectively. At 40 years old, Zuckerberg is also younger than both Musk (53) and Bezos (60), giving him more time to grow his wealth. Zuckerberg's Early Start and Recent Comeback Zuckerberg founded Facebook in 2004 at the age of 19 and took it public in 2012. Today, Meta has a market value of $1.3 trillion, making it one of the world's largest companies, bigger than even Tesla or JPMorgan. Zuckerberg has recovered from a challenging period when Meta's stock lost 75% of its value between 2021 and 2022, dropping his net worth to just $35 billion. Since then, Meta's stock has skyrocketed, climbing over fivefold, and gaining 65% in the past year alone. The rise is fueled by investor confidence in Meta's potential to benefit from AI advancements and Zuckerberg's more conservative spending. If the current trends continue, Zuckerberg might soon be chasing Musk and Bezos for the title of the richest person in the world.

How Facebook co-founder Mark Zuckerberg can beat Elon Musk, Amazon founder Jeff Bezos to become the richest person this year - Times of India

Mark Zuckerberg, the CEO of Meta, the parent company behind Facebook, Instagram, Threads, and WhatsApp, may become the world's richest person for the first time this year. Reportedly, his wealth soared by $51 billion - bringing his total wealth to an estimated $179 billion. As per the Bloomberg Billionaires Index, he secured the fourth spot after Tesla CEO and X owner Elon Musk ( $248 billion), Amazon founder Jeff Bezos ($202 billion) and luxury goods tycoon Bernard Arnault ($180 billion).Zuckerberg's rise in 2024 has seen him overtake LVMH CEO last week, according to a report by Business Insider. How Zuckerberg can overtake Musk, Bezos While Zuckerberg is a bit far from catching Musk and Bezos, The volatile nature of tech fortunes, coupled with Zuckerberg's outperformance this year compared to Musk and Bezos, may provide a possibility of him clinching the top spot in the near future. For example, Musk's net worth was $164 billion as recently as April, while Bezos was worth a little less in early January than Zuckerberg is now, the report added. Out of the three, the Meta CEO outpaced Musk and Bezos in raking up with Musk and Bezos accumulating $19 billion and $25 billion, respectively, as compared to Zuckerberg's $51 billion. Factors such as a poor earnings report for Tesla or Amazon, legal setbacks, or even substantial philanthropic donations by Musk or Bezos could pave the way for Zuckerberg's ascent. Moreover, at 40, Zuckerberg has a considerable advantage in terms of time compared to Musk, 53, and Bezos, 60, to further grow his wealth. Moreover, Zuckerberg - who is 40 - probably has more time than Musk (53) and Bezos (60) to grow his fortune. His current net worth already surpasses that of iconic figures like Bill Gates, Google co-founders Larry Page and Sergey Brin, and Warren Buffett who has donated more than half his Berkshire Hathaway stock. The TOI Tech Desk is a dedicated team of journalists committed to delivering the latest and most relevant news from the world of technology to readers of The Times of India. TOI Tech Desk's news coverage spans a wide spectrum across gadget launches, gadget reviews, trends, in-depth analysis, exclusive reports and breaking stories that impact technology and the digital universe. Be it how-tos or the latest happenings in AI, cybersecurity, personal gadgets, platforms like WhatsApp, Instagram, Facebook and more; TOI Tech Desk brings the news with accuracy and authenticity.

Mark Zuckerberg could become the richest person on the planet after a $51 billion wealth surge this year

This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in. He trails Musk and Bezos by some distance, but he could quickly narrow the gap as technology fortunes are notoriously volatile. Musk was worth just $164 billion as recently as April, while Bezos was worth a little less in early January than Zuckerberg is now. A few bad days for Tesla and Amazon, and a few good ones for Meta, would allow Zuckerberg to seize the top spot. It's true that Meta, Tesla, and Amazon trade similarly as all three are mega-cap US tech stocks, meaning Zuckerberg, Musk, and Bezos' fortunes tend to rise and fall in tandem. But a bad earnings report, a bombshell lawsuit, an antitrust investigation, or a disaster of any kind could knock Musk and Bezos below Zuckerberg. Zuckerberg could also climb to the peak if Musk and Bezos make some large philanthropic donations. After all, the only reason that Warren Buffett isn't the richest person on the planet with a $300 billion-plus net worth is that he's donated more than half his Berkshire Hathaway stock. The Meta chief has been outpacing Musk and Bezos in wealth accumulation this year, putting him on track to overtake them. His $51 billion gain this year far surpasses their respective increases of $19 billion and $25 billion. Zuckerberg, 40, probably has more time than Musk, 53, and Bezos, 60, to grow his already vast fortune. Buffett amassed over 99% of his fortune after turning 65, author Morgan Housel notes in "The Psychology of Money." That shows how powerful a long time horizon is in compounding wealth. Despite being far younger, Zuckerberg commands a greater net worth than business titans Bill Gates, Buffett, and the "Google Guys," Larry Page and Sergey Brin. Zuckerberg founded Facebook in 2004 when he was 19 and took it public in 2012 at age 28. Meta now stands as the world's seventh-largest public company with a $1.3 trillion market capitalization, making it more valuable than many corporate behemoths, including Buffett's Berkshire ($989 billion), Musk's Tesla ($723 billion), Walmart ($633 billion), or JPMorgan ($585 billion). Zuckerberg has staged quite a comeback in recent years. Meta stock tanked by over 75% between September 2021 and November 2022 as investors balked at Zuckerberg's decision to plow tens of billions of dollars into its nascent metaverse business, and soured on tech stocks more broadly. The slump slashed Zuckerberg's net worth to just $35 billion at its nadir. But the stock has soared over fivefold since then -- and 65% in the past year -- to hover at record levels of above $500. The rally, which has quintupled Zuckerberg's net worth too, reflects Wall Street betting that Meta will win big from the AI revolution, and investors' relief that Zuckerberg has reined in his spending. Zuckerberg isn't nipping at Musk and Bezos' heels yet, but his strong momentum and the vicissitudes of tech wealth could mean that changes pretty soon.