Mark Zuckerberg's Wealth Soars $10 Billion On Meta Sales Rebound

Mark Zuckerberg's wealth witnessed a jump by more than $10 billion on Thursday, his third-biggest jump on record, after Meta Platforms Inc. surprised investors with robust first-quarter sales, according to a Bloomberg report.

Meta shares rose 14% after the earnings report, lifting Zuckerberg's fortune to $87.3 billion and boosting him up a notch on the Bloomberg Billionaires Index to 12th place. It's the highest the Meta chief executive officer's wealth has been in more than a year, stated the Bloomberg report.

Thursday's move reversed the wealth destruction Zuckerberg experienced in 2022, when his net worth fell 57% - or $71 billion - after a costly pivot to the metaverse and an industry-wide slump stirred concern over the company's growth prospects.

The billionaire used Thursday's results to burnish his case for pressing on with investments in areas like artificial intelligence and virtual reality, as per the Bloomberg report.

The Menlo Park, California-based company has also focused on paring costs through lower spending and layoffs, in what Zuckerberg has described as "the year of efficiency."