Here's How Mark Zuckerberg Became $11 Billion Richer In One Day

Two months ago, Facebook founder Mark Zuckerberg got kicked out of the top 10 billionaires list after his net worth fell by almost $30 billion in one day.

Following the $30 billion wipeout, Zuckerberg, who had a net worth of $84.3 billion at that time, fell to the 12th spot on the Forbes list of real-time billionaires.

Today, his net worth stands at $73.6 billion. He is currently the 15th richest billionaire, below Michael Bloomberg and Francoise Bettencourt Meyers and family, as per Forbes.

This week, Zuckerberg became $11 billion richer after shares of Facebook's parent company Meta shot up more than 17%.

Facebook users reportedly increased during the first three months of the year.

Monthly active Facebook users were up 3%, while daily active Facebook users grew 4%. Monthly and daily active users on Meta's family of apps, including Instagram and WhatsApp, each grew 6%.

Although Meta’s share was up, the stock remained 39% lower this year and faced serious headwinds, according to CNN.

Meta also posted its slowest revenue growth in years, and its profit was down 21% compared to a year ago.

The company is currently battling rivals, such as TikTok. Other issues impacting the firm include signal loss from Apple’s iOS changes, the slowing of e-commerce growth and the war in Ukraine, per Zuckerberg.

Last year, Meta divided its business into two categories, namely "Family of Apps," which includes Facebook, Instagram and Messenger, and "Reality Labs," focused on building the social media platform of the future.

“Over the next several years our goal from a financial perspective is to generate sufficient operating income growth from Family of Apps to fund the growth of investment in Reality Labs while still growing our overall profitability,” Zuckerberg said in a Facebook post.

Meta reportedly plans to use three main investment priorities to drive growth: Reels, ads, and the metaverse.