Meta CEO Mark Zuckerberg now holds the No. 2 spot on Bloomberg’s Billionaires Index with a net worth of $206 billion, thanks to his 13% stake in Meta, which owns Facebook, WhatsApp, Instagram, and Threads. The company’s heavy investment in artificial intelligence has led to significant growth, with Zuckerberg’s net worth increasing by $78 billion in 2024. Despite surpassing Amazon’s Jeff Bezos, Zuckerberg still trails behind Elon Musk, who holds the title of the world’s richest person with a net worth of $256 billion.
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Peter Hargreaves’ Blue Whale sells major tech stocks over AI concerns
Blue Whale Growth, managed by Stephen Yiu, has reduced exposure to major US tech companies like Microsoft due to concerns over their hefty investments in AI infrastructure. Yiu has aggressively sold shares in Microsoft, pushing it out of the top 10 holdings for the first time since 2017. Blue Whale has seen success, returning 24% this year, with a significant stake in Nvidia and concerns over the financial performances of other Magnificent Seven tech giants...
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