Meta Platforms Inc. META CEO Mark Zuckerberg’s wealth has increased by about $44 billion this year.
According to Bloomberg Billionaires indexWith a net worth of $89.9 billion, Zuckerberg is now the 12th richest person on the list.
are directly above him Francoise Bettencourt Meyerswhich ranks 11th at $91 billion, and Carlos Slimwho ranks 10th with a net worth of $91 billion.
On Friday, Meta shares traded 0.93% lower at $244.55 as broader markets fell in response Uncertainty about the debt ceiling.
Meanwhile meta-platforms Instagram comes up with a new Twitter like text app that could happen as early as June. According to a post by Lia Haberman, the app will reportedly feature a one-time login using one’s Instagram credentials ICYMI Newsletter. The user’s username, bio and verification details are taken from Instagram.
Also read: Harvard expert says Zuckerberg is derailing Facebook
“Meta may face challenges bringing Twitter users to its platform,” analysts at Bloomberg Intelligence said in a note. “It could pose a threat to Twitter, whose engagement has likely been hampered by charging a monthly subscription fee from its heavy users.”
Meta’s revenue prospects are also improving, analysts Rob Sanderson and Alan Gould of Loop Capital Markets recently told Bloomberg. Both analysts have a target of $320 per share compared to Friday’s close of $244.55.
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