According to the Bloomberg Billionaires Index, Mark Zuckerberg becomes the second richest man, officially surpassing Jeff Bezos.

Zuckerberg has amassed over $206.2 billion as his net worth which surpasses Bezos' $205.1 billion net worth. The Meta CEO has grown his net worth up to $78 billion since 2024 started. Furthermore, this growth is significantly higher than any of the members in the 500 richest people list from the Bloomberg Index. It has also been reported that he has a 13% stake in his own Meta company.

Just recently, Meta's shares came up to $582.77 which is a company record. The shares indicate a 68% increase from the beginning of the year. Meta's shares at the start of January were estimated to be $346.29. So this jump in shares is impressive as it also contributed to Zuckerberg climbing the ladder to the top.

Mark Zuckerberg Becomes Second Richest Man: More on his claim to the top

As Mark Zuckerberg becomes the second richest man in the world, Meta parallels his success with its high profits. Meta has stated that the company's second-quarter sales rose to $39.07, which is a 22% increase in sales. The leading tech giant has credited its investments in AI helping its online advertising performance as one of the main reasons for its increase in sales. Meta has been investing billions upon billions in VR and AR technologies to build their metaverse concept.

However, a grim side to Meta's success resides in the form of 21,000 Meta employees losing their jobs. This major company layoff started in 2022 and it also went into 2023 as well. The layoffs were due to the company devising a huge budget plan. Unfortunately, as job layoffs are quite common in the tech industry, Meta may bring about a future wave of layoffs.

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