Mark Zuckerberg is now California's richest billionaire after his fortune surged over the past year, report says
Mark Zuckerberg. Chris Unger
- Mark Zuckerberg is California’s richest person, with a net worth of $177 billion, Forbes has reported.
- The Meta CEO’s wealth has grown notably this year as the company’s stock has continued to rise.
- Zuckerberg owns multiple properties in California.
Mark Zuckerberg is now the richest billionaire in California, with a net worth of $177 billion, a new Forbes report says.
The report, which maps out the richest billionaire in each state for 2024, says the Meta CEO overtook the Google cofounder Larry Page as the Golden State’s richest person.
Zuckerberg has a roughly 13% stake in Meta, which has helped his fortune surge over the past year as the stock continued its gains from 2023, rising by about 23% so far this year.
The stock was buoyed in 2023 by the company’s big cost-cutting measures, such as mass layoffs, and its investments in artificial intelligence and the metaverse.
Zuckerberg’s net worth placed him behind Texas’ richest person, Tesla CEO Elon Musk, and Amazon’s founder, Jeff Bezos, who took the title in Florida.
The 54 billionaires researched by Forbes for the report were together worth $1.6 trillion, $100 billion more than last year, the outlet reported.
It added that 47 states were home to at least one billionaire.
Zuckerberg has built an extensive property portfolio in California.
Architectural Digest reported in 2022 that the tech billionaire had 10 homes across the state, including in San Francisco, Palo Alto, and Lake Tahoe.
The report also said he had several other properties on Kauai, Hawaii.
While he had a base salary of just $1 in 2023, the Meta boss also took home a huge $24.4 million in “other compensation” for the year.
Representatives for Zuckerberg didn’t immediately respond to a request for comment from Business Insider, which was made outside normal working hours.
If you enjoyed this story, be sure to follow Business Insider on Microsoft Start.