Meta Platforms Inc. (NASDAQ:META) CEO Mark Zuckerberg’s fortune has grown by about $44 billion this year.
According to the Bloomberg Billionaires Index, Zuckerberg now ranks as the 12th richest person on the list, with a net worth of $89.9 billion.
Just above him are Francoise Bettencourt Meyers, who sits in the 11th spot at $91 billion, and Carlos Slim, who sits in the number 10 spot with a net worth of $91 billion.
On Friday, Meta shares traded lower by 0.93% at $244.55 as broader markets fell in response to uncertainty over the debt ceiling.
Meanwhile, Meta platform’s Instagram is coming up with a new Twitter-like text app that could arrive as soon as June. The app will reportedly feature a single sign-in with one’s Instagram details, according to a post from Lia Haberman’s ICYMI newsletter. The user’s handle, bio, and verification details will carry over from Instagram.
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“Meta could be challenged to bring Twitter users to its platform,” Bloomberg’s Intelligence analysts said in a note. “It may be a threat to Twitter, whose engagement has likely been hurt by charging its heavy users a monthly subscription fee.”
Meta’s revenue outlook is also brightening, Loop Capital Markets analysts Rob Sanderson and Alan Gould told Bloomberg recently. Both analysts have a target of $320 a share, compared with Friday’s closing price of $244.55.
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