In the latest update from October 2024, the Bloomberg Billionaire Index unveils a significant reshuffling among the world’s wealthiest individuals. Mark Zuckerberg, the influential CEO and co-founder of Meta has surpassed Amazon’s Jeff Bezos to claim the position of the world’s second-richest person, boasting an astounding net worth of $206 billion.
Meta’s Surge
This remarkable shift follows Meta’s extraordinary stock surge in early 2023, which propelled Zuckerberg back into the top 10 wealthiest individuals for the first time since January 2022. The company’s stock soared by 23% following robust sales results for the second quarter of 2024 and substantial advancements in its large language models, notably improving AI chatbots.
Net Worth of Mark Zuckerberg
Zuckerberg’s ascent to the second spot places him just behind Tesla CEO Elon Musk, who currently holds a fortune of $256 billion. Meta’s expansion as the world’s most widely used social media platform, with over 3 billion monthly active users, has been a driving force behind Zuckerberg’s immense wealth.
Meta’s Expansion
Under Zuckerberg’s stewardship, Meta has diversified its portfolio to include the popular social media platforms Instagram and WhatsApp. The company’s market capitalization now stands at an impressive $1.255 trillion, solidifying its position as the world’s seventh-largest corporation.
The latest top 10 rankings from the Bloomberg Billionaire Index as of October 2024 are as follows:
1. Elon Musk – $256 billion
2. Mark Zuckerberg – $206 billion
3. Jeff Bezos – $205 billion
4. Bernard Arnault – $193 billion
5. Larry Ellison – $179 billion
6. Bill Gates – $161 billion
7. Larry Page – $150 billion
8. Steve Ballmer – $145 billion
9. Warren Buffett – $143 billion
10. Sergey Brin – $141 billion
The Race for the Top Spot
The competition for the top spot among the world’s billionaires remains dynamic. Elon Musk currently leads the pack due to his diverse investments and innovative business strategies. Jeff Bezos and Bernard Arnault continue to be formidable contenders, reflecting the ongoing volatility in global markets and individual business performances.
Elon Musk: The Richest Person
Elon Musk, the visionary CEO of Tesla, SpaceX, and X (formerly Twitter), maintains his position as the world’s richest person with a net worth of $256 billion. Musk’s leadership during Tesla’s initial public offering (IPO) in 2010 significantly bolstered the company’s market capitalization.
Jeff Bezos: Amazon Founder
Meanwhile, Jeff Bezos, the visionary founder and chairman of Amazon, held the title of the world’s richest person on Forbes from 2018 to 2021 before being overtaken by Musk and Zuckerberg.
Bernard Arnault: LVMH CEO
Bernard Arnault, the esteemed CEO and chairman of LVMH, briefly reclaimed the top spot as the richest person in the first half of 2023 and 2024, surpassing Elon Musk. Under Arnault’s leadership, LVMH has become a global powerhouse with over 70 luxury brands.
Trillionaire Status
Projections suggest that Zuckerberg is on track to achieve trillionaire status by 2030, assuming he maintains his recent annual growth rate of 35.8%, as per a report by Informa Connect. Similarly, Elon Musk is poised to become the world’s first trillionaire by 2027.
Conclusion
The rankings of the world’s richest individuals continue to evolve, reflecting the dynamic nature of global markets and individual business performances. As the competition for the top spot intensifies, one thing remains certain – these billionaires will continue to shape the business world and beyond.
