Mark Zuckerberg, the founder and CEO of Meta (formerly Facebook), has now taken the second position in the world’s richest individuals list, surpassing Amazon’s Jeff Bezos and Bernard Arnault of LVMH. According to the latest figures from the Bloomberg Billionaires Index, Zuckerberg’s wealth has skyrocketed to $211 billion (roughly ₹17.73 lakh crore). This sharp increase has allowed Zuckerberg to join an exclusive group of billionaires who have amassed a fortune of over $200 billion.
At the top of this list remains Tesla and SpaceX founder Elon Musk, with an enormous net worth of $263 billion (₹22.09 lakh crore). Jeff Bezos, once the richest person in the world, is now third with $209 billion (₹17.56 lakh crore), while luxury goods magnate Bernard Arnault holds the fourth position with $193 billion (₹16.21 lakh crore).
Zuckerberg’s Wealth Grows by $78.1 Billion in 2024
Zuckerberg’s financial ascent in 2024 has been particularly remarkable, with his net worth increasing by an astonishing $78.1 billion (₹6.5 lakh crore) so far this year. This massive leap is primarily driven by the meteoric rise in the share price of Meta Platforms, the parent company of social media giants Facebook, Instagram, WhatsApp, and the newer platform Threads.
Meta’s shares have surged by over 72% in 2024, reaching a record high of $595.94. As Meta continues to explore innovative technologies and expand its portfolio, Zuckerberg’s wealth has reflected this growth. His recent ventures, particularly in the realm of artificial intelligence (AI), have also contributed to his financial success.
Meta’s AI Ambitions and Technological Growth
A major factor behind Zuckerberg’s rising fortune is Meta’s growing focus on artificial intelligence. During Meta’s Connect event on September 25, 2024, Zuckerberg announced ambitious plans for Meta-AI, the company’s digital assistant. According to him, Meta-AI is on track to become the world’s most widely used digital assistant, with nearly 500 million active users.
This AI-driven project will expand further into global markets, including the European Union. With AI gaining significant traction across various industries, Meta’s aggressive investment in this sector is paving the way for sustained growth and innovation.
Tech Leaders Continue to Thrive
Zuckerberg isn’t the only tech leader enjoying substantial gains in 2024. The wealth of many prominent figures in the tech industry has seen unprecedented growth this year. For instance, Nvidia CEO Jensen Huang has witnessed an increase of $63.5 billion (₹5.3 lakh crore) in his wealth, while Oracle co-founder Larry Ellison’s fortune has grown by $55.9 billion (₹4.7 lakh crore).
The boom in the tech sector, particularly advancements in AI and cloud computing, has fueled these incredible financial gains. For Zuckerberg, a large part of his wealth stems from Meta’s consistent stock performance and successful strategic initiatives in new technologies.
Bernard Arnault’s Decline in Wealth
While tech billionaires like Zuckerberg, Musk, and Huang have seen tremendous gains, Bernard Arnault’s fortune has faced a dip in 2024. The CEO of luxury conglomerate LVMH, which owns prestigious brands such as Louis Vuitton, Christian Dior, and Moët & Chandon, has seen his wealth decrease to $193 billion.
Arnault was once a member of the exclusive $200 billion wealth club, but fluctuations in the luxury goods market and economic uncertainty have pushed him down the list. Despite this, Arnault remains one of the world’s wealthiest individuals and continues to lead one of the most successful luxury empires globally.
Why Tech Billionaires Are Leading
The surge in the wealth of tech entrepreneurs, including Zuckerberg, can largely be attributed to the explosive growth of technology stocks, particularly those tied to AI and digital innovations. As companies like Meta, Nvidia, and Oracle continue to make strides in these areas, their leaders are reaping the rewards.
Zuckerberg’s consistent focus on expanding Meta’s digital footprint and exploring new technological frontiers like the metaverse and AI has solidified his position as one of the top global billionaires. With Meta’s platforms playing a crucial role in shaping the future of communication and AI, Zuckerberg’s wealth is expected to continue its upward trajectory.
As 2024 progresses, the growing importance of AI and tech innovations will likely further define the world’s wealthiest individuals, with Zuckerberg positioned to remain a significant player.
