**Meta's Metaverse Moves and AI Ambitions**

Tech mogul Mark Zuckerberg has climbed to the fourth spot among the world's wealthiest, boasting a net worth of $201 billion. This rise follows Facebook's rebrand to Meta in October 2021 and its ventures into metaverse hardware and AI.

Meta's stock has soared to around $567 per share, a significant jump from its November 2022 low of $88. Despite this, the company slashed its metaverse budget by 20% in July 2024, directing Reality Labs to cut expenses by 2026.

At the recent Meta Connect event, Zuckerberg introduced the Orion augmented reality glasses and the budget-friendly Quest 3S VR headset. The company is now pivoting towards AI, with a focus on open-source models and innovative products like Ray-Ban Meta AI glasses.