- Mark Zuckerberg's net worth increased by roughly $12 billion in a single day thanks to Thursday gains in Meta shares.
- Meta shares are up over 50% this year after surging 21% on Thursday morning.
Mark Zuckerberg's cost-cutting measures for Meta have borne fruits for investors — and himself — as the company's share price surged 21% on Thursday morning.
The Thursday increase adds to Meta stock's winning streak, taking its gains to over 50% this year. Zuckerberg saw his net worth grow by roughly $12 billion in a single day as Meta shares hit an intraday trading high of $184.60 on Thursday. His net worth was $57.2 billion as of the Wednesday market close, according to the $4, where he is in the 21st spot.
Since most of Zuckerberg's wealth is tied to his Meta shares, his roughly $12 billion single-day increase in net worth brings the value of his fortune to around $69 billion as of Thursday morning.
The rise in Zuckerberg's fortune is impressive because it put him in the fifth spot in terms of year-to-date gains behind fellow billionaires $4 $4 $4 and $4 according to the $4
Even so, this is a far cry from early 2022, when Zuckerberg started the year with a $125 billion fortune.
The $4 in Zuckerberg's wealth last year mirrored a massive decline in Meta's share price, which lost about two-thirds of its value in 2022 after Facebook reported a $4 for the first time ever amid a massive strategic pivot.
In November, Zuckerberg announced $4 that affected about 13% of its workforce and implemented other cost-cutting measures, like $4. On Wednesday, Meta said it will continue to $4 in 2023.
"It's been a rapid phase-change, to take a step back and say, 'Ok, we can't treat everything like it's hyper growth,'" Zuckerberg said on a $4 call with Wall Street analysts on Wednesday, according to a $4 "We have a lot of things now that a lot of people use and that support a large amount of business and we should operate somewhat differently."
Meta expects capital expenditures to fall by $4 billion this year, the company said in a $4