Mark Zuckerberg’s Wealth Nears N200 Billion, Threatens Elon Musk's Position as Dangote Gains
by by Pascal Oparada · Legit.ng News · Join- Meta CEO Mark Zuckerberg has earned about $70 billion in the last nine months of this year
- The Facebook founder is ranked the third wealthiest person in the world behind Elon Musk and Jeff Bezos
- Zuckerberg’s gain comes as the shares of Meta increased, propelling the company to the $1 trillion market cap
Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
Mark Zuckerberg, Meta CEO, has earned $70.3 billion this year, boosting his wealth to $199 billion.
Data from the Bloomberg Billionaire’s Index shows that Zuckerberg’s wealth skyrocketed him to the third wealthiest man on earth, ahead of Bernard Arnault, the former world’s richest man, and Oracle’s owner, Larry Ellison.
Zuckerberg earns $70 billion in one year
Huang led Zuckerberg in year-to-date wealth gain earlier last week. However, in early September, the Nvidia founder lost about $11 billion in three days, leading to the decline of the company’s stock.
According to reports, Huang’s wealth will grow from $59.4 billion to $103 billion in 2024, with Nvidia shares rising by 144% since January.
The development means that Huang and the Facebook founder jointly earned $130 billion this year.
Legit.ng reported that Zuckerberg lost about $70 billion in 2022 when he began building the botched metaverse. This spooked investors and led to a 75% decline in meta shares between 2021 and November 2022.
The company, which laid off thousands of workers this year, has reined in its spending, which has ignited interest in it as a leader in next-generation technology, communication, and entertainment.
Meta shares soars
The company’s shares soared more than five times from their 2022 lows to trade at about $500 per share, exceeding its $1 trillion market cap.
BusinessInsider reports that Huang’s fortune has increased by $59.4 billion to $103 billion this year, with Nvidia’s shares rising 144% since January.
Mark Zuckerberg’s gain has quintupled due to his 13% stake in Meta, boosting his fortune from $35 billion in November 2022 to $199 billion as of September 2024.
The development comes as Nigeria and Africa’s wealthiest man, Aliko Dangote, gained about $26 on Friday, September 20, 2024, to remain Africa’s richest man.
Dangote recently regained his title as Africa’s richest man from Johan Rupert.
Mark Zuckerberg overtakes Bill Gates
Legit.ng earlier reported that Meta CEO Mark Zuckerberg is now the world's fourth richest man, overtaking Microsoft founder Bill Gates in the new billionaire ranking.
Data from the Bloomberg Billionaire Index shows that despite losing $5 billion in the past 24 hours, Zuckerberg is ahead of his fellow Americans, with $165 billion in net worth compared to Bill Gates's $145 billion.
Zuckerberg rose from the 20th wealthiest man in the world in the second quarter of 2023 to occupy the enviable position after gaining almost $37 billion.