Jakarta –
After two months of being eliminated from the ranks of the 10 richest people in the world, Mark Zuckerberg seems to be starting to ‘improve’ his ranking.
Reporting from CNN Business, Saturday (4/30/2022), the wealth of the founder of Facebook increased by US $ 11 billion or equivalent to Rp. 159.3 trillion (exchange rate of Rp. 14,490) in a day. This happened thanks to the skyrocketing shares of Meta, the parent company of Facebook and Instagram, by 17% on Thursday. Meta shares rose 19% the previous day which added to Zuckerberg’s coffers of US $ 11.5 billion.
Meta actually recorded the lowest growth on Wall Street in recent years. However, investors are celebrating the return to user numbers which is key to attracting advertisers.
Meta’s achievements this time are in stark contrast to the ‘disaster’ they experienced in the fourth quarter. The meta stock plummeted in February, marking it as the worst result in Wall Street history. These results also make Zuckerberg thrown from position 9 row of the richest people in the world.
At the close of Wednesday, Zuckerberg was ranked as the 18th richest person in the world with a fortune of US $ 65 billion or Rp. 968.5 trillion. A day later, his position is expected to climb up thanks to an additional US$11 billion in wealth to US$76 billion.
Although Meta shares are up, they are 39% lower this year. Meta also has to face intense competition among social media, as well as a series of privacy policy changes from Apple that affect the company’s business.
In addition, the conflict between Russia and Ukraine also affected the growth of Meta’s business. Facebook and Instagram were blocked in Russia last month. It is estimated that this challenge will continue to be faced by Meta throughout this quarter.
(hns / hns)
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