Meta’s current market capitalization exceeds $1.4 trillion, positioning it among the most valuable companies globally. Following Facebook’s rebrand to Meta in October 2021 and the company’s expansion into metaverse hardware and artificial intelligence, Mark Zuckerberg has become the fourth-wealthiest billionaire, with a net worth of $201 billion.

An expensive demo, an unfulfilled Metaverse—Meta has become the Queen of Vaporware. This story originally appeared in The Technology Letter and is republished here with permission. Oh, the Metaverse!

Mark Zuckerberg’s bet on the metaverse initially looked like a colossal mistake, wiping more than $100 billion from his net worth. But now it’s paying off big-time.