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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Australia will become the first country to ban social media accounts for users under 16 starting 10 December, with regulators tracking “migratory patterns” to stop teens shifting to other platforms, Communications Minister Anika Wells said on Wednesday (3 December).
Meta Platforms on Wednesday launched its first consumer-ready smart glasses with a built-in display, seeking to extend the momentum of its Ray-Ban line, one of the early consumer hits of the artificial intelligence (AI) era.
U.S. President Donald Trump will host more than two dozen technology and business leaders on Thursday for a dinner in the newly renovated White House Rose Garden, a White House official said.
Australia's internet safety regulator has criticised YouTube and Apple for failing to track or respond adequately to reports of child sexual abuse material on their platforms.
In a dramatic Champions League clash at Baku’s Tofiq Bahramov Stadium, Qarabağ grabbed an early lead, but Ajax staged a thrilling comeback to win 4-2.
Iran is preparing to host a multilateral regional meeting next week in a bid to mediate between Afghanistan and Pakistan.
At least 19 people were killed and 16 injured as two buildings collapased in Morocco's Fes city according to the state news agency.
China’s Ministry of Foreign Affairs has urged Afghanistan and Pakistan to resolve their tensions through dialogue and engagement, as it pledged to work with the international community to help improve relations between the two countries.
Iran's President Massoud Pezeshkian has begun a two day visit to Kazakhstan, with officials from both sides describing the trip as an opportunity to advance cooperation in trade, transport, industry, mining and cultural exchanges.
The U.S. Federal Reserve’s Federal Open Market Committee (FOMC) cut its benchmark interest rate by 25 basis points to a range of 3.50% to 3.75% following its two-day policy meeting, according to an official statement issued on Wednesday, 10 December.
China has carried out a major test of a new “super wireless” rail convoy, a technology that could reshape the future of heavy-haul transport.
Paramount Skydance (PSKY.O) has launched a $108.4 billion hostile takeover bid for Warner Bros Discovery (WBD.O). The escalation follows a high-stakes battle that had appeared to end last week when Netflix secured a $72 billion deal for the studio giant’s assets.
U.S. industrial production rose by 0.1% in September, rebounding after a decline in August, while capacity utilisation remained unchanged, according to Federal Reserve data on Wednesday.
Google’s YouTube has announced a “disappointing update” for millions of Australian users and creators, confirming it will comply with the country’s world-first ban on social media access for under-16s by locking affected users out of their accounts within days.
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