Meta CEO Mark Zuckerberg has emerged as the world’s second-richest individual, following a sharp rise in Meta’s stock price on Monday, June 2. The tech giant’s shares jumped nearly 4%, translating to a staggering $8 billion increase in Zuckerberg’s net worth.
The rally was spurred by investor excitement over Meta’s reported plans to roll out a comprehensive suite of AI tools designed for advertisers, underscoring a strategic pivot from its metaverse-heavy investments.
By the end of trading, Meta stock had gained $23.41 to close at $670.90—outperforming the broader S&P 500, which rose just 0.4%. With a new total net worth of $231.6 billion, Zuckerberg has now overtaken Amazon founder Jeff Bezos on Forbes’ global billionaire list. Elon Musk remains at the top, despite losing $2.1 billion on the same day, maintaining a lead with $420.6 billion.
The day proved a mixed bag for the world’s wealthiest. While Bezos added $1.5 billion and Oracle’s Larry Ellison gained nearly $1 billion, others weren’t as lucky. Bernard Arnault and family saw their wealth decline by $2.9 billion, while Google co-founders Larry Page and Sergey Brin lost $2 billion and $1.9 billion respectively. Microsoft’s Steve Ballmer, however, inched forward with a $359 million gain.
Meta’s AI push is widely seen as a fresh growth strategy after years of heavy spending on the metaverse with limited returns. Zuckerberg, who still owns around 13% of Meta and retains control through a dual-class share structure, appears to be refocusing the company’s future.
Despite longstanding scrutiny over privacy, content moderation, and market dominance, Meta’s platforms—Facebook, Instagram, and WhatsApp—continue to engage billions daily. Notably, in 2015, Zuckerberg and his wife Priscilla Chan pledged to donate 99% of their Meta shares during their lifetimes via the Chan Zuckerberg Initiative.