Mark Zuckerbergs wealth soared by more than $10 billion on Thursday, his third-biggest jump on record, after Meta Platforms Inc. surprised investors with robust first-quarter sales.
Meta shares rose 14% after the earnings report, lifting Zuckerbergs fortune to $87.3 billion and boosting him up a notch on the Bloomberg Billionaires Index to 12th place. Its the highest the Meta chief executive officers wealth has been in more than a year.
Thursdays move reversed the wealth destruction Zuckerberg experienced in 2022, when his net worth fell 57% or $71 billion after a costly pivot to the metaverse and an industry-wide slump stirred concern over the companys growth prospects.
The billionaire used Thursdays results to burnish his case for pressing on with investments in areas like artificial intelligence and virtual reality.
The Menlo Park, California-based company has also focused on paring costs through lower spending and layoffs, in what Zuckerberg has described as the year of efficiency.
Zuckerbergs biggest one-day increases in net worth are $12.5 billion on Feb. 2, and $11 billion about a year ago.
