Mark Zuckerberg has surpassed Jeff Bezos as the world's second richest person, with a net worth of $206.2 billion.

Meta CEO Mark Zuckerberg has surpassed Jeff Bezos to become the world's second-richest person, with a net worth of $206.2 billion, according to the Bloomberg Billionaires Index.

This rise in wealth, fueled by a 13% stake in Meta, has seen his net worth increase by $78 billion since the start of the year. Meta's shares hit a record high of $582.77, up 68% from $346.29 in January, reflecting investor enthusiasm for the company's strong profit growth.

In 2024, Meta has consistently reported earnings that beat analyst expectations, with second-quarter sales rising 22% to $39.07 billion. This success is attributed to substantial investments in artificial intelligence, which improved the online advertising platform that struggled after Apple's iOS privacy update in 2021.

Zuckerberg implemented significant cost-cutting measures in late 2022, resulting in 21,000 job losses but favorable investor reactions.

As Meta's advertising business rebounded, it benefited from increased digital ad spending by Chinese retailers. While continuing to invest heavily in virtual and augmented reality technologies for the metaverse, investors have remained supportive as long as Meta's core ad business thrives.

Recently, Meta launched its Orion AR glasses, receiving positive reviews from early testers.

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