On Tuesday, Mark Zuckerberg, the founder of Meta, became the third-richest person in the world, surpassing Bernard Arnault. This happened because Meta’s stock went up while LVMH’s stock went down.
As of about 2:45 p.m. EDT, Zuckerberg’s net worth is around $175.5 billion, which is up by about $8.6 billion (5.1%), according to Forbes’ Real-Time Billionaires List.
Zuckerberg Moves Up to Third Richest as Arnault’s Wealth Drops
Arnault, who is the chairman and CEO of LVMH (which includes brands like Louis Vuitton and Tiffany & Co.), has a net worth of roughly $174.1 billion after it dropped by $588 million.
At market close, LVMH’s shares fell a bit (0.3%), while Meta’s shares rose by 5.5%, increasing Zuckerberg’s net worth.
Zuckerberg is now the third-richest person in the world, behind Amazon founder Jeff Bezos, who has an estimated net worth of $183.5 billion. Elon Musk is still the richest person, with an estimated net worth of $223.6 billion.
As of Tuesday, LVMH shares are down 13.4% this year, even though they had risen as much as 22% by March 13. In contrast, Meta’s shares have gone up nearly 45% this year. This recent boost follows a report that Meta’s profit for the second quarter increased by 73%. The company also reported earnings of $5.16 per share, surpassing the expected $4.72 per share.
The rankings on our billionaire tracker have changed a lot recently. Arnault was the richest person earlier this year but was later surpassed by Musk. Musk took the second-place spot from Bezos in May, after being the richest person for over two years. In June, Bezos and Arnault swapped places as the second-richest person several times, similar to how Musk and Bezos exchanged spots in March.
Conclusion
Mark Zuckerberg is now the third-richest person globally because Meta’s stock went up, while LVMH’s stock fell. Zuckerberg’s net worth is now $175.5 billion, while Bernard Arnault’s has dropped to $174.1 billion, changing the top billionaire rankings.
