Shares of Meta, the parent company of Facebook and Instagram, shot up more than 17% Thursday, making Zuckerberg nearly $11 billion wealthier in a single day. The stock had been up as much as 19% earlier in the day, briefly boosting Zuckerberg’s fortune by $11.5 billion.
Even though Meta missed Wall Street revenue forecasts for the first quarter and posted its slowest revenue growth in years, investors were celebrating its turnaround on user numbers — a key metric for advertisers.
The giddy response Thursday was in stark contrast to Meta’s disastrous fourth-quarter results, which sent shares plummeting in early February in the biggest single-day wipeout in Wall Street history. That loss also knocked Zuckerberg, who owns 13% of Meta, from his No. 9 spot among the world’s uber-wealthy, as tracked by Bloomberg’s Billionaire Index.
As of Wednesday’s close, Zuckerberg ranked at No. 18, with a net worth of $65 billion. Thursday’s rally should catapult him up a few spots and increase his…
The post Mark Zuckerberg bought $11 billion richer at this time appeared first on CaymanMama.com.
from CaymanMama.com https://ift.tt/H1SzXrJ
No comments:
Post a Comment