Knowledge | Posted by Shwe Zin Win
Mark Zuckerberg has rocketed up the ranks of the world's richest people — and could take the top spot for the first time.
The CEO of Meta Platforms — Facebook, Instagram, Threads, and WhatsApp's parent company — has grown his net worth by an unmatched $51 billion this year to reach $179 billion, per the Bloomberg Billionaires Index.
Zuckerberg sits in fourth place at the time of writing, behind Tesla's Elon Musk (worth $248 billion), Amazon's Jeff Bezos (worth $202 billion), and LVMH's Bernard Arnault (worth $180 billion).
The social media mogul started the year in sixth place but ranked third, above the luxury goods tycoon, just last week.
He trails Musk and Bezos by some distance, but he could quickly narrow the gap as technology fortunes are notoriously volatile.
Musk was worth just $164 billion as recently as April, while Bezos was worth a little less in early January than Zuckerberg is now.
A few bad days for Tesla and Amazon, and a few good ones for Meta, would allow Zuckerberg to seize the top spot.
Zuckerberg could also climb to the peak if Musk and Bezos make some large philanthropic donations.
After all, the only reason that Warren Buffett isn't the richest person on the planet with a $300 billion-plus net worth is that he's donated more than half his Berkshire Hathaway stock.
The Meta chief has been outpacing Musk and Bezos in wealth accumulation this year, putting him on track to overtake them.
His $51 billion gain this year far surpasses their respective increases of $19 billion and $25 billion.
Zuckerberg, 40, probably has more time than Musk, 53, and Bezos, 60, to grow his already vast fortune.
Buffett amassed over 99% of his fortune after turning 65, author Morgan Housel notes in "The Psychology of Money."
Despite being far younger, Zuckerberg commands a greater net worth than business titans Bill Gates, Buffett, and the "Google Guys," Larry Page and Sergey Brin.
Ref: Mark Zuckerberg could become the richest person on the planet after a $51 billion wealth surge this year (businessinsider)
