Mark Zuckerberg's wealth has surged to $204 billion, just $4 billion shy of surpassing Jeff Bezos as the second richest person in the world

 

Mark Zuckerberg's wealth has surged to $204 billion, just $4 billion shy of surpassing Jeff Bezos as the second richest person in the world. This year, Zuckerberg's net worth increased by an impressive $76 billion according to the Bloomberg Billionaires Index. He now holds the third spot on the wealth leaderboard, trailing only Elon Musk at $269 billion and Bezos at $208 billion. Earlier in the year, Zuckerberg was in sixth place but has since passed Bernard Arnault from LVMH and Larry Ellison of Oracle, who are now fourth and fifth with $195 billion and $180 billion, respectively.

Zuckerberg could easily overtake Bezos soon, although Musk remains a tougher challenge. Wealth in tech can change rapidly; Musk's fortune was lower than Zuckerberg's in June and dropped as low as $164 billion in April. A few unsuccessful days for Tesla or successful days for Meta could quickly shift the rankings. All three men—Zuckerberg, Musk, and Bezos—depend on their companies' performances, and any major financial setbacks or legal issues could shift their standings.

Additionally, if Musk and Bezos make significant charitable donations, it could open the door for Zuckerberg to climb even higher. Warren Buffett's massive net worth is partly due to his philanthropy, having given away a large portion of his Berkshire Hathaway shares. Since January, Zuckerberg has outpaced both Musk and Bezos in wealth growth, with his increase of $76 billion far exceeding their gains of about $40 billion and $31 billion, respectively.

At 40, Zuckerberg has more time than Musk, who is 53, and Bezos, who is 60, to grow his wealth. Buffett built most of his fortune later in life, highlighting the benefits of time in wealth accumulation. Despite being younger, Zuckerberg's wealth exceeds that of notable figures like Bill Gates and Buffet.

Zuckerberg started Facebook in 2004 at age 19, and by 2012 he took it public at 28. Meta is now the sixth-largest public company, valued at nearly $1.5 trillion, outpacing many major firms, including Berkshire Hathaway and Tesla.

Zuckerberg's recent journey has been a significant turnaround. Meta's stock plummeted by over 75% between 2021 and 2022 due to concerns about his investments in the metaverse and general tech market fears. During the lowest point, his net worth dropped to $35 billion. However, since then, the stock has skyrocketed, increasing more than fivefold and jumping 89% in the past year, reaching above $570 a share. The rebound reflects investor optimism about Meta's potential in the AI field and their relief at Zuckerberg's reduced spending. He may not have overtaken Bezos or be close to Musk yet, but the current momentum could lead to changes soon.