Mark Zuckerberg Joins the Exclusive $200 Billion Club Amid Tech and Finance Surge

In a remarkable turn of events, Mark Zuckerberg has joined the $200 billion wealth club, a prestigious circle that includes Elon Musk, Jeff Bezos, and now the Meta CEO. This achievement comes on the heels of a breathtaking $72 billion leap in his fortune this year, largely fueled by a nearly 60% rise in Meta stock price, which has soared past $560 a share.

Elon Musk kicked off the year with a wealth of $229 billion, witnessing a growth of $36 billion over the last nine months, culminating in a closing worth of $265 billion. Meanwhile, Jeff Bezos, the founder of Amazon, is back on the list thanks to a $39 billion increase in his net worth to $216 billion, as Amazon shares have rallied nearly 28% this year.

This prestigious club now faces a shakeup with LVMH CEO Bernard Arnault's fortune dwindling significantly, falling to $177 billion after a 16% drop in his company’s shares. Larry Ellison, Oracle co-founder, is also in the mix, having added over $55 billion to his assets this year, propelled by a 57% jump in Oracle's stock.

The surge in fortunes can be attributed to the tech sector's growing focus on artificial intelligence (AI), with major players like Tesla, Amazon, Meta, and Oracle investing heavily in AI technologies to boost their market positions. Furthermore, the recent Federal Reserve interest rate cuts enhance economic growth prospects, favoring stock market performances across the board.