Mark Zuckerberg’s Wealth Skyrockets, Puts Him Closer to Becoming the World’s Richest Person

Mark Zuckerberg has rapidly ascended the ranks of the wealthiest individuals in the world, with the possibility of securing the top position for the first time. The Meta Platforms CEO, responsible for Facebook, Instagram, Threads, and WhatsApp, has seen an unprecedented increase in his wealth this year. According to the Bloomberg Billionaires Index, Zuckerberg’s net worth has grown by $51 billion in 2023, bringing his total to $179 billion.

As of now, Zuckerberg occupies the fourth spot on the list of the richest people globally, trailing behind Tesla’s Elon Musk, valued at $248 billion, Amazon’s Jeff Bezos, with $202 billion, and Bernard Arnault of LVMH, whose wealth is $180 billion. Notably, Zuckerberg started the year ranked sixth, but has recently risen to third place, surpassing Arnault for a brief period.

Although there is still a substantial gap between Zuckerberg’s fortune and those of Musk and Bezos, this difference could close rapidly. Wealth tied to technology companies is notoriously volatile. For instance, Musk was valued at just $164 billion in April, while Bezos’s fortune at the start of the year was even lower than Zuckerberg’s current net worth. Should Tesla or Amazon experience a few challenging days in the market, and Meta continues its upward trajectory, Zuckerberg could be in a position to claim the title of the richest person in the world.

The fortunes of Zuckerberg, Musk, and Bezos are often influenced by similar factors since Meta, Tesla, and Amazon are all mega-cap U.S. tech stocks. These stocks tend to move in tandem, meaning the trio’s wealth can rise or fall simultaneously. However, a negative earnings report, an unforeseen lawsuit, an antitrust probe, or another significant event could potentially lower Musk’s or Bezos’ net worth, allowing Zuckerberg to surpass them. Additionally, if either Musk or Bezos were to make a large philanthropic donation, Zuckerberg’s ascent would be further facilitated.

The possibility of overtaking his rivals isn’t far-fetched given Zuckerberg’s impressive performance this year. His net worth increase of $51 billion far outpaces the gains of Musk and Bezos, who have added $19 billion and $25 billion, respectively. Zuckerberg, now 40, also has the advantage of time on his side compared to Musk, who is 53, and Bezos, who is 60. With several decades potentially ahead of him, Zuckerberg could continue to compound his wealth at a significant rate.

The power of compounding wealth over long periods is well illustrated by Warren Buffett, who accumulated more than 99% of his fortune after the age of 65, according to Morgan Housel’s book *The Psychology of Money.* Although Zuckerberg is younger, his current wealth is already greater than that of notable business leaders like Bill Gates, Warren Buffett, and Google founders Larry Page and Sergey Brin.

A Remarkable Early Career

Zuckerberg’s journey began early, founding Facebook in 2004 at the age of 19. By the time he was 28, he had taken the company public. Meta Platforms, Facebook’s parent company, has now grown into the world’s seventh-largest publicly traded company, boasting a market capitalization of $1.3 trillion. This valuation places it ahead of numerous industry giants, including Warren Buffett’s Berkshire Hathaway ($989 billion), Elon Musk’s Tesla ($723 billion), Walmart ($633 billion), and JPMorgan Chase ($585 billion).

Zuckerberg has made a strong comeback after facing significant challenges over the past few years. Meta’s stock price plummeted by more than 75% between September 2021 and November 2022, driven by investor concerns over Zuckerberg’s decision to invest tens of billions into the company’s burgeoning metaverse division. During that period, the broader tech market also faced a downturn. At the lowest point of this slump, Zuckerberg’s net worth dropped to $35 billion, a sharp contrast to his current standing.

However, Meta’s stock has rebounded dramatically, rising more than fivefold since its lowest point. In the past year alone, Meta’s shares have surged by 65%, reaching record levels above $500 per share. This stock rally has mirrored the resurgence of Zuckerberg’s net worth, which has increased in tandem. The market’s positive outlook on Meta is largely driven by optimism surrounding the potential for the company to capitalize on advancements in artificial intelligence (AI), as well as relief from investors who have appreciated Zuckerberg’s efforts to rein in spending.

The AI revolution is expected to play a pivotal role in Meta’s future success. Wall Street analysts have begun to bet on Meta as one of the companies most likely to benefit from AI technologies. Zuckerberg’s pivot away from aggressive spending and toward more focused investments has further fueled investor confidence, helping to lift Meta’s stock price and restore his personal fortune.

Although Zuckerberg has not yet caught up to Musk and Bezos, his rapid momentum, combined with the unpredictability of the tech world, suggests that he could soon pose a serious challenge to their rankings. A few favorable developments for Meta, paired with any setbacks for his rivals, could bring Zuckerberg within striking distance of the number one spot.

This potential rise comes after years of strategic decisions and resilience. Zuckerberg’s focus on innovation, as demonstrated by his early ventures into the metaverse and AI, has positioned him as a major player in the tech world. Even during periods of market skepticism, he has managed to steer Meta towards a path of recovery, and now growth.

The question remains whether Zuckerberg will be able to maintain this momentum and continue to grow his wealth at a faster pace than his peers. What is clear, however, is that his wealth accumulation this year has been unmatched, putting him on a trajectory that could see him become the world’s richest person in the near future.

At just 40 years old, Zuckerberg’s potential for continued wealth growth is vast. As the tech landscape continues to evolve and as fortunes tied to tech companies remain volatile, Zuckerberg’s position among the wealthiest individuals could keep changing rapidly. While he still trails behind Musk and Bezos, the dynamic nature of the tech industry means that Zuckerberg could soon claim the top spot in the global wealth rankings.