The net worth of Mark Zuckerberg, the Founder of Meta Platforms, has surged ahead of legendary investor Warren Buffett to $125 billion, according to the latest update from the Forbes Billionaire Index.
This milestone places Zuckerberg in the 5th position ahead of Buffett by $7 billion.
Zuckerberg’s ascent in wealth can be attributed to the robust performance of Meta’s stakes that rose between 5th December when he was ranked 7th to the 5th spot in the global wealth rankings.
In 2023, the 39-year-old billionaire’s net worth surged by 95.1% from $64 billion at the beginning of the year to $125 billion by December.
This financial triumph comes despite legal challenges, privacy issues with Facebook, and various scandals, compounded by a decline in ad revenue due to the pandemic.
However, Meta has demonstrated resilience and adaptability that allowed the social media giant to bounce back and flourish in a challenging environment.
Meta’s shares experienced substantial growth throughout 2023, rising from $125 per share at the beginning of the year to $342 in November. This gave investors a return on investment of 155%.
The surge in share value is attributed to Meta’s strategic foray into the virtual reality and augmented reality sectors, coupled with its enduring dominance over popular social media platforms like Instagram, WhatsApp, and Messenger.
Mark Zuckerberg, who co-founded Meta Platforms, initiated his journey with the creation of Facebook in 2004 at the age of 19 while studying computer science and psychology at Harvard University.
Over the years, Meta has evolved and expanded to cement Zuckerberg’s influential role in the ever-evolving landscape of social media and technology.
Despite legal challenges and controversies, Meta’s daily active users for Facebook and its family of apps, including Instagram, have seen consistent increases.
Zuckerberg, currently holding approximately 13% ownership of the company’s stock, retains a pivotal position in steering the future trajectory of social media and technology.