Mark Zuckerberg’s venture into the metaverse initially raised eyebrows, erasing over $100 billion (approximately Rs. 8,39,113 crore) from his wealth. However, recent developments indicate that this gamble is now yielding substantial rewards.
Fueled by a surge in Meta Platforms’ stock price, Zuckerberg’s net worth has experienced a remarkable increase, soaring nearly sixfold to reach $201 billion (around Rs. 16,86,617 crore). This marks the first occasion he has crossed the $200 billion threshold, according to the Bloomberg Billionaires Index. He now ranks fourth among the 500 richest individuals globally, trailing Elon Musk, Jeff Bezos, and Bernard Arnault.
Although other technology leaders, such as Nvidia CEO Jensen Huang, have also seen significant increases in their fortunes this year—Huang’s wealth more than doubling to $106.2 billion (approximately Rs. 8,91,138 crore)—Zuckerberg’s growth stands out. Since the beginning of the year, he has added $73.4 billion (around Rs. 6,15,908 crore) to his wealth, primarily due to his 13 percent ownership stake in Meta, whose stock reached an all-time high on Wednesday and has risen by 60 percent this year.
This current situation contrasts sharply with 2022, when both Meta’s stock and Zuckerberg’s net worth plummeted following significant changes at the company, including a rebranding and extensive investments in the metaverse. At that time, Meta faced challenges in adapting to short-form video content while competitors like TikTok thrived. Analysts now posit that the transition from Facebook to Meta is beginning to realize its potential, especially as the company focuses on the Orion Augmented Reality glasses.
JMP Securities analysts remarked, “The combination of Meta’s advancements in hardware over the past five years and its progress in AI indicates that Orion is indicative of Meta’s shift from a social media company to a Metaverse enterprise.”
Since 2022, Meta has reduced its workforce by 25 percent, laying off tens of thousands of employees. To bolster its stock performance, the California-based firm has launched a $50 billion (approximately Rs. 4,18,928 crore) share repurchase initiative and declared its first-ever quarterly dividend.
Moreover, Meta is investing significantly in artificial intelligence (AI), enhancing its data centers and computing capabilities as Zuckerberg aims for a dominant role in the competitive AI landscape. The company recently revealed plans for further investments in AI-driven creators that engage directly with online audiences.
Additionally, Zuckerberg’s public persona has experienced a noteworthy transformation over the past two years. Once characterized as a socially awkward tech entrepreneur, the 40-year-old CEO has embraced activities such as wakesurfing and mixed martial arts. A recent viral Instagram post featured a seven-foot statue of his wife, Priscilla Chan, with Zuckerberg humorously declaring it an homage to the ancient Roman tradition of sculpting one’s spouse.
He has also indicated a desire to distance himself from political discourse. After previously expressing his views on various social issues, he has since voiced regret about his political engagement. “I think I lacked sophistication regarding the political landscape and fundamentally misdiagnosed the issue,” he stated during a live podcast session in San Francisco.
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