On Thursday Eastern Time, Facebook's parent company Meta Platforms closed at $582.77 per share, hitting a historic high with a nearly 70% increase for the year.
According to Bloomberg, as Meta's stock price continues to rise, its CEO Mark Zuckerberg has surpassed Amazon founder Bezos for the first time to become the world's second richest person.
Screenshot of Bloomberg Billionaires Index
The Bloomberg Billionaires Index shows that Zuckerberg, who is 40 years old, has a net worth of $206.2 billion, which is $1.1 billion more than Bezos. At present, its assets still lag behind Tesla CEO Elon Musk, by nearly $50 billion.
CNBC reported that Zuckerberg's personal wealth corresponds to Meta's profit growth. Throughout 2024, Wall Street has been cheering for Meta as the company's quarterly earnings have consistently exceeded analysts' expectations.
In July of this year, Meta reported that its second quarter sales increased by 22% to $39.07 billion, with revenue growth exceeding 20% for four consecutive quarters. Meta stated that the company's significant investment in artificial intelligence has helped improve the performance of its online advertising platform, which is a major reason for revenue growth.