Top 5 Billionaire Stocks From 5 Billionaires

In this article, we will take a look at the top 5 billionaire stocks from 5 billionaires. To see more such companies, go directly to Top 10 Billionaire Stocks From 10 Billionaires.

5. Meta Platforms, Inc. (NASDAQ:META)

Billionaire: Steve Cohen (Worth $17.5 billion)

Meta Platforms, Inc. (NASDAQ:META) is the favorite stock pick of New York Mets owner Steve Cohen. The billionaire via his hedge fund owns a whopping $1.4 billion stake in the social media company.

Meta Platforms, Inc. (NASDAQ:META) shares are in the spotlight after Bloomberg reported that the company’s unit Instagram is working on a Twitter rival app. Instagram reportedly made the app, which is text-based, available to some creators a month ago and it could be launched as soon as June.

A total of 194 hedge funds tracked by Insider Monkey had stakes in Meta Platforms, Inc. (NASDAQ:META) at the end of the fourth quarter of 2023.

Baron Opportunity Fund made the following comment about Meta Platforms, Inc. (NASDAQ:META) in its Q1 2023 investor letter:

“We continued rebuilding our position of Meta Platforms, Inc. (NASDAQ:META), the world’s largest social network, this quarter. We believe Meta is competitively well positioned to utilize its leadership in mobile advertising and expand further with the generative AI shift, especially given its massive user base, substantial technological scale, and innovative culture. Core engagement has been strong at Meta, especially with the success of Instagram Reels, which is regaining share from TikTok. Across its platforms, Meta has 3.7 billion monthly active users. A U.S. TikTok ban would further materially benefit Meta. In terms of improving monetization, Meta has developed more effective ad targeting in the last few months with its Advantage+ product. Longer term, Meta has invested in generative AI for years and has among the world’s best and largest datasets and distribution. We believe generative AI can materially help Meta improve existing products (e.g., instantly generate personalized creative ads) and expand into new areas (e.g., through WhatsApp and Messenger chats). On the profitability front, Meta’s management is serious about cost discipline (laying off approximately 21,000 workers) and prioritizing a more efficient environment, led in earnest by CEO Mark Zuckerberg. Valuation remains relatively attractive, especially as we expect double-digit earnings per share growth, and additional growth options remain.”