Mark Zuckerberg takes over Jeff Bezos to become world’s 3rd richest person

• Posted on October 7, 2024October 7, 2024
• by Nana Kwesi Coomson
• Comment

Meta co-founder, Mark Zuckerberg is now the second richest person in the world, taking the title from Amazon chairman Jeff Bezos.

According to Forbes’ report, the Meta owner overtook the title after a strong week of trading for Meta shares, which are up more than 5% this week.

Key Facts according to Forbes

On Friday, October 4 Forbes reported that the estimated net worth of the Meta co-founder reached $205.4 billion after a $3.9 billion increase on Friday, overtaking Bezo’s net worth of $203.9 billion.

Zuckerberg is not far behind Larry Ellison ($208 billion), the second richest person on the real-time billionaires list. However, he is way behind Elon Musk ($264 billion), the number one richest man in the world.

Zuckerberg’s net worth coincided with a more than 2% increase in Meta shares, which closed Friday at $595.94 after beginning the week at $567.15.

The stocks linked to each of the billionaires’ primary companies all closed up at least 2% Friday, with Tesla shares leading the way with a more than 4% increase ($250.08).

Key Background

Zuckerberg’s net worth marked a few milestones this week, most notably reaching the $200 billion mark Thursday in what became the first time four billionaires worth $200 billion or more were on the Forbes billionaire list.

The jump in net worth also materialized Zuckerberg’s return to the No. 3 spot on the list, after he took the position from LVMH chief Bernard Arnault in August.

Zuckerberg’s net worth is rooted within Meta’s performance, as the 40-year-old owns 345 Class A and B shares in the company that make up his approximate 13% stake. Meta shares are up more than 68% since January, when they traded at $346.29.