Mark Zuckerberg Is Almost $54 Billion Richer This Year — and He’s Closing in on Elon Musk
It’s only March, but Facebook’s founder is already much wealthier this year.
Key Takeaways
- Mark Zuckerberg’s net worth has surged by almost $54 billion this year, according to Bloomberg data.
- Meta’s soaring share price has boosted the Facebook founder’s wealth.
- Zuckerberg is close to overtaking Elon Musk for the first time since late 2020.
This article originally appeared on .
has become a lot wealthier this year 2024 — and is closing in on his would-be cage-fight rival for the title of the world’s third-richest person.
The CEO’s fortune has surged by almost $54 billion since the start of January, according to the .
As of Friday’s closing bell, he was worth $182 billion — just $7 billion behind Musk. Zuckerberg hasn’t been richer than the CEO since November 2020.
Zuckerberg derives most of his wealth from his 13% stake in Meta, the owner of Facebook, Instagram, and WhatsApp. Its shares have surged 43% this year partly due to Zuck’s “” cost-cutting measures.
In contrast, Musk’s own net worth has plummeted by $40 billion. While Meta and several other have climbed higher, Tesla has tumbled 29%. It’s been dragged down by investors’ worries about a slowdown in global demand for its electric vehicles.
Tesla is “supposed to be a high-growth stock, and the short answer is that this year it looks like it won’t be that high growth,” Seth Goldstein, an equity strategist at Morningstar, told Business Insider. “When growth there is slowing, we tend to see a big reaction from the market.”
and have both overtaken Musk on the Bloomberg index this year.
Musk and Zuckerberg both made efforts to play up their rivalry last year. Zuckerberg took several swipes at the Tesla CEO after Meta launched Threads as a potential competitor to X, the social media site formerly known as Twitter that in October 2022.
At one point, the two billionaires even promised to , although it appears unlikely that is ever going to happen.
Key Takeaways
- Mark Zuckerberg’s net worth has surged by almost $54 billion this year, according to Bloomberg data.
- Meta’s soaring share price has boosted the Facebook founder’s wealth.
- Zuckerberg is close to overtaking Elon Musk for the first time since late 2020.
This article originally appeared on .
has become a lot wealthier this year 2024 — and is closing in on his would-be cage-fight rival for the title of the world’s third-richest person.
The CEO’s fortune has surged by almost $54 billion since the start of January, according to the .
