Meta Founder Mark Zuckerberg Briefly Surpasses Arnault from LVMH to Become Third-Richest Individual

On Tuesday, Mark Zuckerberg, the founder of Meta, surpassed Bernard Arnault, the French luxury goods magnate, to become the third-richest person globally. This shift came after a notable increase in Meta’s stock value and a decline in LVMH’s shares.

As of approximately 2:45 p.m. EDT, Zuckerberg’s wealth was reported to be around $175.5 billion, marking an increase of approximately $8.6 billion, or 5.1%. In contrast, Arnault, who serves as chairman and CEO of LVMH—home to brands such as Louis Vuitton and Tiffany & Co.—saw his net worth fall to around $174.1 billion following a decrease of $588 million.

The value of LVMH shares decreased by 0.3% at the market close, whereas Meta’s shares surged by 5.5%, contributing to the rise in Zuckerberg’s net worth. Currently, Zuckerberg ranks just behind Jeff Bezos, the founder of Amazon, who holds the second position with an estimated net worth of $183.5 billion. Elon Musk remains the richest person globally, with an estimated net worth of $223.6 billion.

Year-to-date, LVMH shares have dropped by 13.4%, despite an earlier increase of up to 22% by March 13. In contrast, Meta’s stock has risen nearly 45% this year, buoyed by a 73% increase in the company’s second-quarter profit. Meta also reported earnings of $5.16 per share, surpassing the anticipated $4.72 per share.

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