Meta’s CEO Mark Zuckerberg testifies during the Senate Judiciary Committee hearing on online child sexual exploitation at the U.S. Capitol, in Washington, U.S., Jan. 31, 2024. Photo by Reuters

American billionaire Mark Zuckerberg, CEO of social media giant Meta Platforms, has surpassed retailer Amazon’s Jeff Bezos as the world’s second richest person.

Zuckerberg’s net worth rose $3.4 billion Friday to $206 billion, a new record for him, behind only electric car manufacturer Tesla’ CEO Elon Musk ($256 billion), according to the Bloomberg Billionaires Index.

Bezos came third at $205 billion with a $2.6 billion decline on the day.

Zuckerberg’s wealth has expanded by $78 billion this year, larger than any other billionaire on Bloomberg’s rich list. He owns a 13% stake in Meta.

Meta shares have jumped 68% since the beginning of the year as Zuckerberg’s bet on metaverse paid off. The stock closed Thursday at a new peak of $582.77.

The company, which posted better-than-expected sales in the second quarter, has been focusing on developing AI products. It also launched the Orion augmented reality glasses last month.