Meta Platforms CEO Mark Zuckerberg has climbed to the fifth spot on Bloomberg’s Billionaire Index, becoming the fifth richest person globally. This surge in ranking is attributed to the significant increase in Meta's share price, boosting Zuckerberg's net worth by $14.3 billion in 2024 alone. He now sits ahead of former Microsoft CEO Steve Ballmer and trails Microsoft Co-founder Bill Gates.
Zuckerberg, who holds a 13% stake in Meta, is poised for further wealth growth in the coming days, fueled by the remarkable surge in the company's shares. Meta's decision to declare its first-ever dividend, coupled with a substantial rise in revenues, contributed to a 15% increase in shares during post-market trading on Thursday.
The surge elevated Meta's market capitalization by over $140 billion, reaching $1.17 trillion. Meta shares have witnessed a 14% increase in 2024 and an impressive 109% surge over the past 12 months. Since Facebook's initial public offering in 2012, the California-based company's stock has risen by a remarkable 933%.
This financial success follows Meta's strategic move to diversify its offerings and focus on the metaverse, marking a pivotal moment in the company's evolution. Facebook officially changed its name to Meta Platforms in October 2021, reflecting its broader vision for the future of the internet.
(With Agency Inputs)
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