Even as Facebook parent firm Meta reported better-than-expected earnings for the first quarter of 2023, its co-founder and CEO Mark Zuckerberg’s wealth has witnessed a boost. According to Forbes’ Real-Time Billionaires list, Mark Zuckerberg’s net worth on Thursday saw a jump of $10.1 billion or 13.57 per cent to $84.9 billion. He is now the 14th richest person in the world.
Meta’s shares on Thursday hit a 14-month high after gaining 14 per cent following its earnings declaration. Following the share increase, Zuckergberg’s fortune now stands at $85 billion, which is about 140 per cent higher than last year when the company’s shares fell to a seven-year low. However, Zuckerberg’s net worth is still far from peak of $136.4 billion recorded in 2021.
Meta has reported a 3 per cent jump in total revenue to $28.65 billion for the first quarter of 2023, compared with $27.9 billion in the year-ago period. Analysts had expected the revenue at $27.65 billion for Q1 2023. Daily active users stood at 2.04 billion as against 2.01 billion expected.
Meta Platforms Inc CEO Mark Zuckerberg said on Wednesday that AI was helping the company boost traffic to Facebook and Instagram and earn more in ad sales, as it forecast quarterly revenue well above analyst expectations.
Zuckerberg started Facebook in 2004 at Harvard University at the age of 19 for students to match names with photos of classmates. Zuckerberg, who now owns nearly 13 per cent of the company’s shares, took Facebook public in May 2012. In November 2021, he changed the company’s name to ‘Meta’ to focus on metaverse.
Apart from Zuckerberg, those who have seen their wealth increase the most in the past 24 hours on Thursday are Jeff Bezos ($4.8 billion), Elon Musk ($4.2 billion), Larry Page ($3 billion) and Sergey Brin ($2.9 billion), according to the Forbes’ Real-Time Billionaires list.
Currently, LV’s Bernard Arnault is the world’s richest person, whose total net worth currently stands at $238.4 billion. He earlier this month overtook Tesla’s Elon Musk to become the richest person on Earth. Elon Musk’s wealth now stands at $171.8 billion.