"The Meta CEO dropped two spots on Bloomberg's Billionaires Index after the company's quarterly earnings report sent its stock sliding. Zuckerberg lost around $29.2 billion overnight, leaving him with $235 billion. The drop pushed him to fifth place on the index, below Amazon's Jeff Bezos and Alphabet's Larry Page. Page's net worth increased to $244 billion as Alphabet's shares rose 2.5% after the company beat earnings estimates, buoyed by robust growth in Google Cloud and Search."
"Investors have been jittery about Meta's big AI spending plans. Meta said on Wednesday it could spend $70 billion to $72 billion on AI capital expenditures in 2025, up from its previous guidance of $66 billion to $72 billion. Meta CFO Susan Li said spending will climb even higher in 2026 as Meta invests in data centers, cloud services, and salaries for the growing ranks of AI researchers and engineers hired for Meta Superintelligence Labs."
Mark Zuckerberg lost about $29.2 billion overnight as Meta's stock fell, reducing his net worth to roughly $235 billion and moving him to fifth on Bloomberg's Billionaires Index. Alphabet's Larry Page rose to about $244 billion after shares gained 2.5% on better-than-expected earnings driven by Google Cloud and Search growth. Amazon's stock jumped more than 13% after strong third-quarter results and AWS growth, though Jeff Bezos' fortune fell about $6.6 billion. Meta said it could spend $70 billion to $72 billion on AI capital expenditures in 2025 and CFO Susan Li said spending will increase further in 2026 for data centers, cloud services, and salaries for AI researchers and engineers. Zuckerberg faced analyst questions about how Meta is spending on AI.
Read at Business Insider
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