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“Meta’s Q1 2023 Earnings Report Sends Mark Zuckerberg’s Net Worth Soaring Over $10 Billion”

In a major financial windfall, Mark Zuckerberg’s net worth has surged by over $10 billion following the latest financial results of Meta, the parent company of Facebook. Meta’s stock price rose by nearly 10% in after-hours trading on Thursday, following the release of the company’s Q1 2023 earnings report, which exceeded market expectations.

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Zuckerberg, who is the CEO and founder of Meta, owns approximately 14% of the company’s shares, making him one of the world’s richest people. With the recent surge in Meta’s stock price, his net worth is now estimated to be around $130 billion, up from $119 billion just a day earlier.

Meta reported revenue of $30.7 billion for Q1 2023, up 21% compared to the same period last year. The company also reported a net income of $11.2 billion, a significant increase from the $9.5 billion it reported in Q1 2022. These strong financial results were largely driven by a surge in advertising revenue, which increased by 24% year-over-year to $29.1 billion.The company’s user base also continued to grow, with Meta reporting 3.15 billion monthly active users across its platforms, including Facebook, Instagram, WhatsApp, and Messenger. This represents a 10% increase compared to the same period last year.

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In a statement accompanying the earnings report, Zuckerberg said, “We’re pleased with the strong start to the year, and we’re focused on building products that people love and that make a positive impact on the world.”The strong financial results and surge in Meta’s stock price have made Zuckerberg and other major shareholders even wealthier, further cementing their positions among the world’s elite billionaires.

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