Mark Zuckerberg Becomes Fourth Richest Person as Meta Platforms Shares Surge

New York: Mark Zuckerberg, the CEO of Meta Platforms, has ascended to the position of the fourth richest person globally, propelled by a surge in Meta’s share price. In the ongoing year 2024, Zuckerberg’s wealth has soared by an impressive $42.4 billion, securing his place on Bloomberg’s Billionaire Index at number four. This surge has resulted in him surpassing Microsoft Co-founder Bill Gates, who now occupies the fifth position, according to a report by MarketWatch.

As of now, Zuckerberg boasts a staggering net worth of $170 billion, with the majority of his wealth stemming from a substantial stake of around 13 per cent in Meta Platforms, formerly known as Facebook. This information is based on the company’s 2023 proxy statement and regulatory filings, as detailed by the Bloomberg Billionaires Index.

Mark Zuckerberg, as the Co-founder and Chief Executive of Meta Platforms, oversees the operations of the company behind Facebook, the world’s largest social network. Headquartered in Menlo Park, California, Meta Platforms reported a robust revenue of $117 billion in 2022, attracting approximately 3.7 billion monthly users.

The company made history with its initial public offering in 2012, marking the most significant technology IPO at that time. Facebook, now part of Meta Platforms, retains its status as the world’s largest social network, with approximately 3.7 billion active users each month, including around 3 billion on the Facebook platform, as per Meta’s January 2023 company presentation.