Mark Zuckerberg is having the best day of his life. At least when it comes to his personal wealth.
On Thursday, Meta Platforms Inc. stock rose 17.6% after the company announced that its biggest social-media network, Facebook, added more users than expected in the first quarter. According to the Bloomberg Billionaires Index, this increased its 37-year-old chief executive officer’s fortune by $11 billion, the largest one-day boost he’s ever experienced.
Zuckerberg’s massive fortune gain propelled him up six slots in the Bloomberg ranking to 12th place, passing Carlos Slim and Jim, Rob, and Alice Walton.
Facebook’s recent user increase is a dramatic contrast to Meta, which saw its first-ever user loss in the final three months of 2021. The rise in the stock price indicates that investors are less concerned about the company’s future growth prospects in comparison to competitors.
Meta’s stock is still down 39 percent this year, despite Thursday’s rally. Zuckerberg’s net worth dropped by $49.6 billion in the first four months of 2022, more than any of the other 20 richest billionaires.
