April 28, 2023

Meta’s Shares Soar 15% In A Day, Zuckerberg’s Net Worth Jumps

Meta shares rose 14% after the earnings report yesterday.

Zuckerberg’s fortune rose to $87.3 billion and boosted him up a notch on the Bloomberg Billionaires Index to 12th place.

This the highest the Meta chief executive officer’s wealth has been in more than a year.

Zuckerberg’s net worth fell 57% — or $71 billion — after a costly pivot to the metaverse and an industry.

Meta founder used Thursday’s results to burnish his case for pressing on with investments in areas like artificial intelligence and virtual reality.

Zuckerberg’s biggest one-day increases in net worth are $12.5 billion on Feb. 2, and $11 billion about a year ago.

Meta reported nearly $3 billion of loss in its Metaverse division in the last quarter.