Meta Stock Skyrockets, Mark Zuckerberg Rises Again To Be The Richest Man

Jakarta, CNN Indonesia

After almost two months of bouncing off the list of 10 richest man world, boss Facebook Mark Zuckerberg crawled back up.

Zuckerberg’s wealth skyrocketed in line with soaring shares of Meta, the parent company of Facebook and Instagram.

Collect CNN BusinessMeta shares jumped 17 percent in trading Thursday (28/4) US time, making Zuckerberg US $ 11 billion or Rp. 158.4 trillion (exchange rate of Rp. 14,400) richer in a day.

Although Meta’s first-quarter earnings slowed and missed Wall Street projections, investors were celebrating user growth, a good sign for ad revenue.

Investors’ response contrasted with Meta’s poor performance in the fourth quarter of last year, which sent stocks plummeting in early February.

The losses have also knocked Zuckerberg, who owns 13 percent of Meta, from number 9 the world’s richest person, according to Bloomberg’s Billionaire Index.

Zuckerberg was ranked 18th at the close of last Wednesday, with a net worth of US $ 65 billion or Rp. 936 trillion.

However, thanks to the increase in Meta shares, his name was raised to become the 12th richest person in the world on Thursday (29/4) to around US $ 76 billion or Rp. 1,094 trillion.

Meanwhile, Amazon even reported a loss of US $ 3.8 billion or Rp. 54.72 trillion in the first quarter of this year, heaven and earth with the realization of the previous year’s period which made a profit of US $ 8.1 billion or Rp. 116.64 trillion.

The company recorded a loss of $7.6 billion from its investment in Rivian Automotive, which lost 75 percent of its share price after its IPO in November 2021.

The realization of the performance made Amazon’s stock collapse, slumping 10 percent. “The COVID-19 pandemic and war in Ukraine brings growth and unusual challenges,” said Amazon CEO Andy Jassy in a statement.

Even so, Jeff Bezos’ wealth from the second position in the world is still undisturbed. He recorded pocketing a total wealth of US $ 169 billion or Rp. 2,433 trillion as of Thursday’s close, only one rank below Elon Musk.

[Gambas:Video CNN]