Meta’s founder, Mark Zuckerberg, has ascended to the position of the world’s third-richest person, surpassing Bernard Arnault, a prominent figure in the luxury goods industry. This change in rankings was induced by a surge in Meta shares and a concurrent decline in LVMH’s shares.
According to Forbes’ Real-Time Billionaires List, Zuckerberg’s net worth now stands at approximately $175.5 billion, following a substantial increase of about $8.6 billion. On the other hand, Arnault, who serves as the chairman and CEO of LVMH, estimated a net worth of about $174.1 billion, witnessing a decrease of $588 million as LVMH’s shares experienced a marginal decline of 0.3%.
Notably, Meta’s shares soared by 5.5%, substantially boosting Zuckerberg’s net worth, while shares of LVMH witnessed a slight descent at market close. This shift places Zuckerberg behind Jeff Bezos, the founder of Amazon, who holds the position of the world’s second-richest person with an estimated net worth of $183.5 billion. Currently, Elon Musk retains his position as the world’s wealthiest individual, with an estimated net worth of $223.6 billion.
Contextually, it is vital to note that shares of LVMH have encountered a decline of 13.4% over the year as of Tuesday, despite experiencing a surge of about 22% through March 13. Contrarily, Meta’s shares have substantially escalated by nearly 45% throughout the year. This recent surge comes following Meta’s reportage of a 73% rise in second-quarter profit and the announcement of earnings amounting to $5.16 per share, thereby surpassing the estimated $4.72 per share.
This reshuffling at the pinnacle of the billionaire tracker illustrates the dynamic nature of wealth rankings in recent times. Arnault had earlier held the title of the world’s wealthiest person earlier this year before being overtaken by Musk, who subsequently surpassed Bezos to secure the second-place spot in May, with Bezos and Arnault engaging in multiple exchanges for the title of the world’s second-wealthiest person in June.
In essence, Zuckerberg’s elevation to the third-richest person globally further accentuates the rapidly changing landscape of wealth distribution and underscores the substantial impact of market fluctuations on individual net worth.
