Mark Zuckerberg becomes world's third richest person, joins $200 billion club

Mark Zuckerberg 

Meta CEO Mark Zuckerberg has reached a major milestone in his financial career, officially joining the elite $200 billion club.

Mark Zuckerberg's net worth has increased to $200 billion, making him the third-richest person in the world after Amazon founder Jeff Bezos and Tesla CEO Elon Musk, as says Bloomberg Billionaires Index.

Currently, Elon Musk is the richest person in the world with a staggering net worth of $265 billion, closely followed by Jeff Bezos with $216 billion. 

Most of Zuckerberg's wealth comes from his 13% stake in Meta, with around 345.5 million shares.

This year alone, Zuckerberg's wealth has soared by  $71.8 billion, putting him far ahead of other tech giants such as Oracle co-founder Larry Ellison and former Microsoft CEOs Bill Gates and Steve Ballmer. 

Zuckerberg's  rise in wealth comes on the back of Meta's stock price rising nearly 60% since January 2024, with the stock hitting an all-time high of over $560 per share. 

The company's solid valuation has generated a lot of interest among investors. The company trades at a forward P/E of 24, just below the Nasdaq 100's average multiple of 26. 

At the recent Meta Connect 2024 event, Zuckerberg highlighted the company's ambitious plans for its AI initiatives, where he announced that Meta AI has reached nearly 500 million monthly active users, putting it on track to become the world's most  used assistant.