Zuckerberg's Net Worth Swells $12 Billion As Meta Ends Best Week Since 2024

Mark Zuckerberg’s net worth increased by $12 billion on Friday as Meta’s stock concluded its best weekly performance in more than two years, following the debut of a new AI model and reported plans for the Facebook parent to develop in-house AI chips.

The Facebook parent’s stock saw a positive investor reaction to its new AI model and reported plans for in-house AI chips.

Meta jumped 6% on Friday to just under $670, extending a more than 14% rally for the stock over the week, its best five-session performance since a 20.5% surge the week ending Feb. 2, 2024, according to FactSet data.

The latest boost in Meta shares added $12.7 billion to Zuckerberg’s net worth, valued at $229.3 billion, as he ranks No. 6 in the world behind No. 5 Michael Dell ($241.3 billion) and No. 4 Jeff Bezos ($255.2 billion), according to Forbes estimates.

This week Meta rolled out Muse Image, a new AI model to be used as a tool for creating images, and the latest update to its foundational AI model Muse Spark, which Meta claimed is a “significant upgrade” that makes the model better at coding, using software tools and understanding texts and images together.

On Thursday, Meta’s shares rallied by 4.7% after Reuters reported the company planned to start producing an in-house AI chip by September.

Bank of America Analyst Justin Post applauded Meta’s chip plans, writing in a note that the company may have found a way to build or operate its AI infrastructure much more cheaply than Wall Street expected.

Meta has faced backlash for its Muse Image tool from Hollywood unions, talent agencies and cybersecurity firms over privacy concerns.