Mark Zuckerberg has now passed Jeff Bezos in the global wealth rankings, sliding into the third spot after Meta’s latest earnings sent its stock soaring—www.naijnaira.com reports.
According to Forbes, Zuckerberg’s personal fortune surged by $28.4 billion in a single day, taking his total net worth to $268.4 billion. This came after Meta’s stock climbed more than 11%, reflecting Wall Street’s strong response to the company’s latest earnings numbers.
Bezos, now fourth, saw his own wealth climb by about $4.5 billion as Amazon shares rose close to 2%, but that wasn’t enough to keep pace with Zuckerberg’s gain. Elon Musk remains the richest person in the world with $403.5 billion, followed by Oracle’s Larry Ellison with $306 billion.
Meta’s performance blew past forecasts, reporting $47.5 billion in second-quarter revenue and $7.14 per share in profit. That’s up 22% and 38% year-over-year, respectively. The company has now beaten earnings estimates for ten straight quarters and revenue projections for twelve.
Investors appear drawn to Meta’s heavy investment in artificial intelligence, which the company says it’s pursuing “aggressively” to boost future business potential.
Meanwhile, Microsoft’s value passed $4 trillion after a 4% share increase, joining Nvidia at that mark. Ex-CEO Steve Ballmer saw his wealth rise to $149 billion, putting him eighth on the billionaires list behind Google’s Sergey Brin and ahead of Bernard Arnault of LVMH.
Article updated 2 months ago. Content is written and modified by multiple authors.
