Zuckerberg has surpassed Bezos as the world’s second-richest person, passing him on to his team.

Meta Platforms Inc. shares have continued to gain while sending Jeff Bezos down to the second richest in the world, as Mark Zuckerberg replaces him. His net worth has reached an incredible high of $206.2 billion and has positioned him $1.1 billion above Amazon’s founder, Jeff Bezos, and places him about $50 billion behind Tesla’s chief, Elon Musk.

This is driven by the stock jumping as high as 23% upon announcing better-than-expected sales figures for the second quarter. In addition, its tremendous advancement in large language models toward enhancing AI chatbots has encouraged investors to be confident in the company. At this juncture, Meta’s stock closed its all-time high at $582.77 due to some good performance in the market.

In the case of Meta, it translates to fast-paced investments involved in huge spending on data centers and other computing infrastructure in the race for supremacy in the field of artificial intelligence. This again mirrors Zuckerberg’s eagerness to push the envelope in leading the company forward and upgrading its technological platform.

As one of the biggest shareholders in the firm, Zuckerberg owns about 13% of Meta; that has greatly helped him build his fortune. In fact, his net worth gained a staggering $78 billion this year only, the largest gain among the 500 richest people tracked by the Bloomberg Billionaires Index. This financial growth, while reflecting some of his successful maneuvers in business, also speaks to greater trends within the technology sector in that it demonstrates huge returns on investment that may occur when companies adapt and innovate in response to changing market demands.

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