Zuckerberg overtakes Bill Gates, becomes fourth richest person in the world

NEW YORK: Meta Platforms CEO Mark Zuckerberg is now the fourth richest person in the world following a surge in Meta’s share price that has increased his net worth more than any other individual this year, a report said.

In 2024 so far, Zuckerberg’s fortune has climbed by $42.4 billion, which has vaulted him to the fourth place on Bloomberg’s Billionaire Index. He has now overtaken Microsoft Co-founder Bill Gates, who dropped to the fifth position, MarketWatch reported.

Zuckerberg now has a net worth of $170 billion. The majority of Zuckerberg's fortune is derived from a stake of about 13 per cent in Meta Platforms, formerly Facebook, based on the company's 2023 proxy statement and regulatory filings, as per the Bloomberg Billionaires Index.

Zuckerberg is the Co-founder and Chief Executive of Meta Platforms, the company behind Facebook -- the world's largest social-network.

The Menlo Park, California-based business had a revenue of $117 billion in 2022 and has about 3.7 billion monthly users. Its initial public offering in 2012 was the biggest-ever technology IPO at the time.

Facebook is the world's largest social network. Meta Platforms has about 3.7 billion active users each month, including about 3 billion on Facebook, according to a January 2023 company presentation.