Mark Zuckerberg has ascended to the second richest individual globally, with a net worth of $206.2 billion, closely behind Elon Musk, which reflects the resurgence of investor optimism over Meta's financial performance following a challenging period.
Meta's shares are experiencing remarkable growth, closing at a record high of $582.77 as a result of substantial investments in artificial intelligence, enhancing online advertising efficacy and driving vigorous sales growth despite earlier setbacks from privacy changes.
Zuckerberg's net worth surged by $78 billion this year alone, largely fueled by the recovery of Meta's advertising strategy after significant challenges due to Apple's iOS privacy updates that previously impacted its revenue.
The favorable investor response to Zuckerberg's aggressive cost-cutting measures, which led to the reduction of 21,000 jobs, has coincided with a rebound in Meta's advertising business, showcasing resilience and strategic turnaround efforts.
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