Meta’s Zuckerberg is $56 billion richer this year, more than Nvidia’s Huang

Earlier this week, Huang led Zuckerberg in year-to-date wealth gain. But Nvidia’s co-founder and CEO took a roughly $11 billion hit on that front in the last three trading days due to the chipmaker’s sharp drop in its stock price. Huang’s fortune rose by $50 billion to $94.2 billion this year.

Meta is a social media powerhouse that owns Facebook, WhatsApp, Instagram and Threads. With Zuckerberg at the helm, he has made huge bets on virtual reality, the metaverse and artificial intelligence in recent years.

The costly forays initially spooked investors, fueling a more than 75% drop in Meta shares between September 2021 and November 2022.

But the broader boom in artificial intelligence — and signs that Meta is cutting back on spending — has reignited interest in the company as a potential leader in next-generation technology, communications and entertainment.

Shares of Meta have more than quintupled from their 2022 lows, hitting record highs above $500, valuing the company at $1.3 trillion.

The meteoric return more than doubled the value of Zuckerberg’s roughly 13% stake in Meta, boosting his personal fortune from under $35 billion in November 2022 to $184 billion today.

Now that Huang’s luck has turned, Zuckerberg can claim the title of the planet’s biggest wealth gainer this year.