Mark Zuckerberg has emerged as the most significant wealth gainer of 2024, surpassing Nvidia’s Jensen Huang following a volatile week in the markets.

According to the Bloomberg Billionaires Index, Zuckerberg’s net worth has surged by $55.6 billion this year, a 43% increase, bringing his total fortune to $184 billion.

This leap has elevated him to third place on the global rich list, ahead of LVMH CEO Bernard Arnault (worth $183 billion) and Microsoft’s cofounder Bill Gates (worth $158 billion).

Previously, Huang, the co-founder and CEO of Nvidia, had been leading in year-to-date wealth gains due to Nvidia’s soaring stock price driven by the AI boom.

However, Nvidia’s stock decline this week has erased $11.5 billion from Huang’s wealth, reducing his year-to-date gains to $44 billion.

Huang’s net worth now stands at $94 billion, placing him behind Zuckerberg in wealth accumulation for the year.

Zuckerberg’s substantial wealth increase reflects Meta’s resurgence.

Under his leadership, Meta has invested heavily in AI, virtual reality, and the metaverse.

Although these strategies led to a sharp 75% drop in Meta’s stock between September 2021 and November 2022 due to investor skepticism, the company has since benefited from the global AI boom and a return of investor confidence, driving its stock and Zuckerberg’s personal fortune upwards.