Mark Zuckerberg's Net Worth Nears $200 Billion

Media

Published: November 23, 2024 9:51 am

According to the Bloomberg Billionaire list, riding Meta Platform’s (NASDAQ: META) surging share price, founder and CEO Mark Zuckerburg’s net worth is just shy of $200 billion. This moves him into fourth place on the yardstick behind Elon Musk ($348 billion), Jeff Bezos ($219 billion) and Larry Ellison ($206 billion).

Zuckerberg’s net worth is up 54% this year, and Meta’s market cap is up 56% to $1.4 trillion over the same period. That makes it the seventh most valuable public company in the world.

Zuckerberg owns 14% of Meta, Facebook’s parent company. However, he owns an additional class of shares, which gives him voting control over the company. Outside shareholders have virtually no say in Meta’s direction.

Zuckerberg started Facebook from scratch in 2004 as an undergraduate at Harvard. He has built it into the world’s largest social medium, with over two billion active users.

Meta’s revenue was $40.6 billion in the most recent quarter, up 19% from the same quarter a year ago. EPS rose 30% to $6.03. What Meta now calls “family daily active people” reached 3.29 billion people. The company’s comment, “We expect fourth quarter 2024 total revenue to be in the range of $45-48 billion,” triggered a surge in the stock price.

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