Mark Zuckerberg became the world's second-richest person for the primary time on Thursday, overtaking Jeff Bezos, as shares of Meta Platforms Inc. proceed to rise.
According to the Bloomberg Billionaires Index, Zuckerberg's bet on the metaverse – which initially looked like a significant bust – has paid off in recent months, driving his net value to a high of $206.2 billion. That puts him $1.1 billion ahead of Amazon.com Inc.'s Bezos and nearly $50 billion behind Tesla Inc.'s Elon Musk.
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Meta shares have risen 23% because the company reported better-than-expected second-quarter sales and touted its foray into the type of large-scale language models that power AI chatbots. The stock closed at an all-time high of $582.77 on Thursday.
Zuckerberg, who owns a 13% stake within the Menlo Park, Calif.-based company, has seen his wealth increase by $78 billion thus far this yr, the largest growth of any of the world's 500 richest people tracked by the Bloomberg index.
The 40-year-old co-founder and CEO has climbed 4 places within the wealth index this yr.
–With support from Jack Witzig.
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