Mark Zuckerberg Is $70 Billion Richer This Year — and Almost in the $200 Billion Club He could be on track to become the world's richest person.
Key Takeaways
- Mark Zuckerberg's fortune has ballooned by about $70 billion this year.
- The Meta CEO is now worth $198 billion, up from $128 billion at the start of the year.
- He previously trailed Nvidia's Jensen Huang in year-to-date wealth gain, but that changed this month.
This article originally appeared on Business Insider.
Mark Zuckerberg has grown his fortune more than anyone else this year — even Nvidia's boss, Jensen Huang.
The Meta cofounder and CEO has become $70.3 billion richer this year, boosting his net worth to $198 billion, according to the Bloomberg Billionaires Index.
Zuckerberg now ranks third on the rich list, ahead of LVMH CEO Bernard Arnault (worth $183 billion) and Oracle's Larry Ellison (worth $179 billion).
Huang led Zuckerberg in year-to-date wealth gain at the start of this week. But earlier this month the Nvidia cofounder and CEO took a roughly $11 billion hit on that front over three trading days because of a sharp decline in the chipmaker's stock.
However, Huang's fortune has grown by $59.4 billion to $103 billion this year, with Nvidia stock up 144% since the start of January. That means Zuckerberg and Huang are jointly almost $130 billion better off this year.
Meta is a social media powerhouse that owns Facebook, WhatsApp, Instagram, and Threads. With Zuckerberg at the helm, it has made huge bets on virtual reality, the metaverse, and artificial intelligence in recent years.
The pricey forays initially spooked investors, fueling a 75%-plus decline in Meta stock between September 2021 and November 2022.
But the wider AI boom — and signs that Meta is reining in its spending — have reignited interest in the company as a leader in next-generation technology, communication, and entertainment.
Meta shares have soared more than fivefold from their 2022 low to trade at record highs above $500, valuing the company at $1.4 trillion.
The blistering comeback has more than quintupled the value of Zuckerberg's roughly 13% stake in Meta, boosting his personal fortune from under $35 billion in November 2022 to $198 billion.
Now that Huang's luck has turned, Zuckerberg can claim the title of the biggest wealth gainer this year — and could be on track to become the world's richest person.
