Metaplatforms META is a top-performing stock in 2024, hitting a new all-time high of $629.79 on Friday, boosting CEO and co-founder Mark Zuckerberg’s wealth.
What happened: According to Bloomberg, Zuckerberg is currently the third richest person in the world with a net worth of $215 billion. Only the 40 year old trails Elon Musk ($362 billion) and Jeff Bezos ($240 billion).
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Zuckerberg’s $87.3 billion profit trails only Musk’s $133 billion profit for the year. He’s just ahead Jensen Huang‘s addition of $82.6 billion to his wealth, putting him 11th on the list.
Zuckerberg is now worth more than the following people combined:
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Warren Buffett, Berkshire Hathaway CEO: $147.0 billion, 9th richest
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Ken Griffin, Citadel LLC CEO: $42.4 billion, 37th richest
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Peter Thiel, Venture capitalist: $15.9 billion, 141st richest
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Mark Cuban NBA owner, investor: $8.1 billion, 365th richest
Related: It’s No Wonder Jeff Bezos Owns More Than $70 Million in Art — this alternative asset has outperformed the S&P 500 since 1995, with an average annual return of 11.4%. Here’s how regular investors get started.
Why it’s important: Zuckerberg passes Buffett as the legendary investor known as the Oracle of Omaha has given away some of his wealth and vowed to continue doing so.
Buffett’s net worth will increase by $27.2 billion in 2024 thanks to a higher price for Berkshire Hathaway shares.
Griffin, Thiel and Cuban all increased their total wealth by $5.9 billion, $6.7 billion and $1.2 billion by 2024.
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Zuckerberg is of course connected to Thiel in Meta Platforms, which was previously called Facebook, history. Thiel was the first outside investor for Facebook, acquiring some of his wealth by being an early investor in the company and selling his stake over the years.
Meta shares have traded between $317.77 and $629.79 over the past 52 weeks. Shares are up 80% this year since Friday.
Meta, which touts strong quarterly results and growth, is currently valued at over $1.5 trillion.
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