Mark Zuckerberg just had his best day ever. At least as far as his personal wealth is concerned. Meta Platforms Inc. shares soared 17.6% on Thursday after the company reported that its flagship social-media network, Facebook, added more users than projected in the first quarter. That added $11 billion to its 37-year-old chief executive officer’s fortune, the biggest one-day increase he’s ever had, according to the Bloomberg Billionaires Index.
Zuckerberg’s huge wealth gain vaulted him up six spots to 12th in the Bloomberg index, leapfrogging other billionaires including Carlos Slim and Jim, Rob and Alice Walton.
Facebook’s recent user growth is a sharp turn for Meta, which reported the first-ever decline in the platform’s users in the final three months of 2021. The share-price rebound suggests investors are less concerned about its future growth prospects relative to competitors.
Even after Thursday’s surge, Meta’s stock is still down 39% this year. Zuckerberg’s $49.6 billion wealth drop in the first four months of 2022 is greater than any of the other 20 richest billionaires.
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