Meta CEO Mark Zuckerberg Hits Peak Wealth, Surpasses Rs 14 Lakh Crore Net Worth As Per Forbes
Mark Zuckerberg, the co-founder and CEO of Meta, has witnessed an unprecedented surge in his net worth over the past year, as noted by Forbes. The value of Meta's shares has nearly tripled, catapulting Zuckerberg's net worth to an astounding $177 billion (Approx Rs 14 lakh crore), marking his pinnacle of wealth, according to Forbes' annual assessment. This surge in wealth has positioned him as the fourth-wealthiest individual globally, a signific...Read More
Mark Zuckerberg, the co-founder and CEO of Meta, has witnessed an unprecedented surge in his net worth over the past year, as noted by Forbes. The value of Meta's shares has nearly tripled, catapulting Zuckerberg's net worth to an astounding $177 billion (Approximately Rs 14 lakh crore), marking his pinnacle of wealth, according to Forbes' annual assessment. This surge in wealth has positioned him as the fourth-wealthiest individual globally, a significant jump from his previous rank of 16.
The Roller Coaster Ride of Meta's Stock
Despite a staggering 75% plunge in Meta's stock from its peak in 2021, Mark Zuckerberg remained resilient. In response to this downturn, Zuckerberg implemented substantial layoffs, trimming nearly a quarter of Meta's workforce.
Zuckerberg's Resilience Amid Market Turbulence
Mark Zuckerberg with his wife | Photo: AP
Zuckerberg's financial journey hasn't been devoid of challenges. In late 2022, amid market uncertainties driven by inflation and interest rate hikes, his wealth plummeted to below $35 billion. However, he swiftly recovered in 2023, showcasing remarkable resilience in the face of market volatilities.
Also Read: Top Richest Person In India In 2024
Meta's Strategic Moves: A Sign of Growth
Meta's recent announcement of a quarterly cash dividend of 50 cents per share signifies the company's confidence in its growth trajectory. Despite significant investments in artificial intelligence endeavors, Meta's decision to introduce dividends indicates a balanced approach to shareholder returns amidst regulatory challenges and limited acquisition opportunities.
A Strategic Shift: Meta's Focus and Investors' Confidence
Following the substantial layoffs and strategic realignment, Meta's stock witnessed an impressive surge, nearly tripling in 2023. The introduction of dividends, coupled with an additional $50 billion allocated for share buybacks, is expected to instill confidence in investors, reinforcing Zuckerberg's long-term vision for artificial intelligence and the metaverse.
Compensation and Personal Ventures
Mark Zuckerberg | Photo: Reuters
Zuckerberg's compensation for 2022 totaled $27.1 million, inclusive of security expenses and a nominal base salary. While Meta's executive compensation for the preceding year remains undisclosed, recent reports suggest Zuckerberg's strategic portfolio restructuring, including the sale of his California mansion and the acquisition of a $300 million yacht, signaling his diverse personal ventures beyond the realm of technology.
The Global Billionaires Landscape
In the realm of global wealth, Bernard Arnault, spearheading LVMH, holds the top position with a net worth of $233 billion. Elon Musk and Jeff Bezos follow closely, each boasting a net worth of $195 billion, reflecting the dynamic landscape of global wealth accumulation.
Top 10 richest person in the world as of April 3
| Rank | Name | Wealth (in Billion $) |
|---|---|---|
| 1 | Bernard Arnault & family | $222.4 B |
| 2 | Jeff Bezos | $198.7 B |
| 3 | Elon Musk | $190.2 B |
| 4 | Mark Zuckerberg | $174.4 B |
| 5 | Larry Ellison | $153.4 B |
| 6 | Warren Buffett | $137.7 B |
| 7 | Bill Gates | $130.7 B |
| 8 | Larry Page | $128.8 B |
| 9 | Steve Ballmer | $124.7 B |
| 10 | Sergey Brin | $123.7 B |
Leading Women in Wealth
Francoise Bettencourt Meyers, the heiress of L'Oreal, reigns as the wealthiest woman globally with a staggering net worth of $99.5 billion. She is trailed by prominent figures like Alice Walton, Julia Koch, Jacqueline Mars, and MacKenzie Scott, symbolizing the increasing prominence of women in global wealth distribution.
Top 10 richest women in the world as of April 3
| Rank | Name | Wealth (in Billion $) |
|---|---|---|
| 15 | Francoise Bettencourt Meyers & family | $94.0 B |
| 21 | Alice Walton | $71.4 B |
| 23 | Julia Koch & family | $64.3 B |
| 34 | Jacqueline Mars | $38.5 B |
| 41 | MacKenzie Scott | $36.7 B |
| 45 | Savitri Jindal & family | $34.8 B |
| 47 | Rafaela Aponte-Diamant | $33.0 B |
| 51 | Miriam Adelson & family | $32.5 B |
| 57 | Gina Rinehart | $30.1 B |
| 58 | Abigail Johnson | $29.0 B |
Mark Zuckerberg's meteoric rise in wealth, coupled with Meta's strategic maneuvers, underscores the dynamic nature of the tech industry and global wealth landscape. As he navigates personal ventures alongside steering Meta's future, Zuckerberg remains a central figure in the ever-evolving narrative of wealth and innovation.
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