Bloomberg Billionaires Index lists Zuckerberg as the 12th richest person in the world with a net worth of $87.3 billion
Founder and CEO of Meta (formerly Facebook), Mark Zuckerberg‘s net worth surged by $10.2 billion after the company posted strong quarterly results, leading to its shares rising by nearly 14 percent, as the company announced two rounds of layoffs impacting 21,000 employees in recent months.
The gain in Zuckerberg’s net worth was the third-largest single-day spike in his career.
Meta posted revenue of $28.65 billion, an increase of 3 percent year-over-year and beating Wall Street expectations in its March quarter. Meta expects the second quarter of 2023 total revenue to be in the range of $29.5-32 billion.
At the close of trading on Thursday, Nasdaq-listed Meta jumped 13.93 percent on better-than-expected results to end the day at $238.56 — its highest close in 15 months, reports The National.
Zuckerberg now has a net worth of $87.3 billion and is the 12th richest person in the world, according to the Bloomberg Billionaires Index.
In 2022, he lost $71 billion (57 percent) from his net worth as the stock market bear run eroded the personal wealth of many of the world’s tech billionaires.
“We had a good quarter and our community continues to grow. Our AI work is driving good results across our apps and business. We’re also becoming more efficient so we can build better products faster and put ourselves in a stronger position to deliver our long-term vision,” Zuckerberg said while declaring the March quarter results.
However, Meta Reality Labs (AR-VR division) lost nearly $4 billion in the March quarter and in 2022, it lost $13.7 billion.
“Our vision for AR glasses involves an AI-centric operating system that we think will be the basis for the next generation of computing,” Zuckerberg told analysts on the earnings call.
“We anticipate our full-year 2023 total expenses will be in the range of $86-90 billion, updated from our prior outlook provided in March,” said Meta.
This outlook includes $3-5 billion of restructuring costs related to facilities consolidation charges, severance, and other personnel costs.
[With Inputs from IANS]
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