Zuckerberg is now billionaire 200 times

Meta Platforms co-founder and chief executive officer Mark Zuckerberg has reached a net worth of $200 billion (Rs. 16,60,000 crore), joining the ranks of the world's richest individuals. 

According to Bloomberg's Billionaires Index, Mr Zuckerberg now stands alongside Amazon founder Jeff Bezos and Tesla CEO Elon Musk, the only other individuals globally to surpass the $200 billion mark in net worth.

Elon Musk is the richest 

Tesla's Elon Musk retains the top position with a net worth of $265 billion, while Jeff Bezos trails closely behind at $216 billion. According to the Billionaire Index, the majority of Mr  Zuckerberg's fortune is derived from a stake of about 13 percent in Meta, based on a July 2024 filing. Meta, the parent company of social media platforms such as Facebook, Instagram and WhatsApp, generated a revenue of $134.9 billion in 2023 and has about 400 crore monthly users.

Mr Zuckerberg’s wealth growth of $71.8 billion in 2024, puts him ahead of other tech moguls such as Oracle co-founder Larry Ellison and former Microsoft CEOs Bill Gates and Steve Ballmer. Mr Zuckerberg’s 13 percent stake in Meta Platforms equates to about 34.55 crore shares.

The tech mogul's net worth was fuelled by Meta stock's soaring almost 60 percent since the start of January to unprecedented highs of more than $560 a share. Meta’s valuation partly explains why investors are still buying at record highs. The company trades at about 24 times forward earnings, roughly in line with its 10-year average and a discount to the 26-times ratio for the Nasdaq 100.

(By arrangment with livemint.com)