Meta CEO Mark Zuckerberg's fortune has exceeded expectations, breaking through the $200 billion barrier for the first time to become the fourth-richest person in the world.
This comes after Meta shares rose 60% since the beginning of the year, which contributed to a 6-fold increase in his wealth in two years.
The top three richest people are Elon Musk, Jeff Bezos, and Bernard Arnault.
Technology companies have dominated U.S. stock markets since the start of 2024, with Nvidiaâs 140% surge this year alone, whose chips are considered the gold standard in artificial intelligence applications, accounting for about a quarter of the S&P 500âs 17% gain.
This year, the index has failed to rise more than 1% on any day Nvidia shares closed lower. There have been 13 such instances in 2020, according to a Reuters analysis conducted in mid-month.
For many investors, the recent moves have revived concerns about a small group of stocks that dictate the direction of the market.
Despite Nvidia's dominance, tech companies in general represent more than 31% of the S&P 500's relative weight and have led many billionaires to record profits since the start of the year.
According to the Bloomberg Billionaires Index, Mark Zuckerberg, of Meta Platforms, has collected the largest amount of these gains, as his wealth rose by more than $72 billion to surpass $200 billion, the highest level the Facebook founder's wealth has reached since joining the list of the world's 500 richest people.
Just six men, all in the tech sector, have added nearly $300 billion to their net worth in less than 10 months.
And of course, Jensen Huang of Nvidia made the list, coming in second with gains of $58 billion, raising his net worth to $102 billion.
