Meta has become the Queen of Vaporware. This story originally appeared in The Technology Letter and is republished here with permission.

Mark Zuckerberg just secured his place as the world’s second-richest person for the first time ever—and he could be on his way to the top. The Meta CEO leapfrogged Amazon founder Jeff Bezos by $1 billion to take the number two spot on Thursday with a net worth of $206 billion,

Mark Zuckerberg claimed the No. 2 spot among the world’s wealthiest people from Jeff Bezos, as the Meta Platforms CEO’s personal fortune swelled to its highest level yet, according to Bloomberg.

Mark Zuckerberg has overtaken Jeff Bezos in terms of wealth. It is another sign of how the chief executive of Meta Platforms has won over the market to his vision of investing in artificial intelligence.

Meta co-founder Mark Zuckerberg became the third richest person in the world Friday, taking the title from Amazon chairman Jeff Bezos after a strong week of trading for Meta shares, which are up more than 5% this week.

Zuckerberg jumped slightly ahead of the current No. 3, Amazon founder Jeff Bezos ($205 billion). Meanwhile, Zuckerberg is about $50 billion behind the world's richest person, Tesl

Meta CEO Mark Zuckerberg now the world's second richest person after Elon Musk. The gap between him and third place is about $1 billion.