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.
“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.