Meta shares surged nearly 12% on Sept. 21 local time, lifting founder Mark Zuckerberg’s estimated net worth to $253.6 billion, according to Forbes as cited by BlockBeats. The one-day increase was estimated at $25 billion. The move came after Wells Fargo raised its price target on Meta from $640 to $796 and kept its overweight rating ahead of the Meta Connect event later this week. The report also said investors were showing confidence in the outlook for Muse, Meta’s personal AI assistant. Usage data for Muse was described as a key metric to watch. The figures cited in the report also converted Zuckerberg’s estimated fortune to about RMB 1.70 trillion, with the single-day gain equal to roughly RMB 167.458 billion.
Meta shares rose nearly 12% on Sept. 21 local time, pushing founder Mark Zuckerberg’s estimated net worth to $253.6 billion, according to Forbes as cited in a BlockBeats brief published on Sept. 22. The report said his wealth increased by $25 billion in a single day.
Using the figures in the report, Zuckerberg’s net worth was estimated at about RMB 1.70 trillion, while the one-day gain was put at roughly RMB 167.458 billion.
Wells Fargo lifts target ahead of Meta Connect
The report said the rally was tied to two factors: Wells Fargo raised its target price on Meta, and investors showed confidence in the prospects for Muse, the company’s personal AI assistant.
On Sept. 21 local time, Wells Fargo lifted its target on the stock from $640 to $796 and maintained an overweight rating ahead of the Meta Connect conference scheduled for later this week.
The report added that usage statistics for Muse are seen as a key metric to watch.
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