In the past five days, the worlds third-richest person has gained $37.3 billion in net worth, according to the Bloomberg Billionaires Index. Thats his largest weekly gain since March 2022, just before he agreed to buy Twitter Inc. for $44 billion in one of the biggest leveraged buyout deals in history. Since then, his fortune has tumbled just as often as it has increased after a breathtaking ascent in 2020 and 2021.
Shares of Menlo Park, California-based Meta dropped the most since October 2022 on Thursday after the company increased spending estimates for the year and projected second-quarter sales that were below Wall Street’s expectations.