160% Stock Surge! Mark Zuckerberg's Meta Surpasses Warren Buffett-led Berkshire Hathaway's Market Cap

160% - that¡¯s how much Mark Zuckerberg-led Meta¡¯s shares have jumped this year after having a forgetful last year. Thanks to this, the company has not only surpassed Berkshire Hathaway's market cap but is also close to surpassing Elon Musk-led Tesla's very soon.

Meta Surpasses Berkshire Hathaway's Market Cap

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This eye-watering surge in Meta¡¯s stock has helped its market cap jump to $834 billion, thus surpassing billionaire Warren Buffett-led Berkshire Hathaway, whose market cap currently stands at $766 billion.

The 160% year till date surge in Meta stock has also made it the seventh most-valuable stock in the S&P 500, surpassing Berkshire Hathaway, Visa and Unitedhealth group on the top 10 list.

As far as Buffett¡¯s Berkshire is concerned, its shares are up just 13.5 % this year to date. Meta is also close to surpassing Elon Musk led Tesla's market cap of $834.8 billion to become the sixth most valuable stock on the S&P500 soon. For the unversed, S&P500 is a stock market index tracking the stock performance of 500 of the largest companies listed on stock exchanges in the US.

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Also Read: Elon Musk Calls Meta 'Copycat' For Planning To Launch Twitter Rival

10 Most Valuable Companies

From Apple, Amazon to Tesla, these are the world's 10 most valuable companies listed on S&P500.

1.Apple
$3.08 trillion

2.Microsoft
$2.51 trillion

3.Alphabet
$1.71 trillion

4.Amazon
$1.36 trillion

5.Nvidia
$1.15 trillion

6.Tesla
$834.8 billion

7.Meta Platforms
$834.1 billion

8.Berkshire Hathaway
$766.6 billion

9.Visa
$472.1 billion

10.UnitedHealth Group
$468.2 trillion

Also Read: How A Lost iPhone Led To Warren Buffett Investing Billions In Apple

Reason Behind Surge In Meta Stock

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Meta, which had launched the ¡®Twitter killer¡¯ Threads app earlier in July, has seen its stock surge about 13% this month. As recently as last week, Meta shares had surged 4% after the company posted stronger-than-expected results for the second quarter and gave guidance for the current period that topped analysts¡¯ estimates. The stock even traded at its highest since January 2022. Meta¡¯s revenue jumped 11% year over year to $32 billion, as per CNBC.

Also, the results reflect a rebound in online advertising, as well as signs that Meta CEO Mark Zuckerberg¡¯s ¡°year of efficiency,¡± or focus on cutting costs and improving profitability, is paying off.

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