Facebook founder and CEO, Mark Zuckerberg has hit the sixth position in the list of the World’s richest. This upward plunge in wealth was made possible by the recent tremendous growth of his Facebook empire.
Facebook stock surged by more than 12% on Thursday morning after the company shattered Wall Street’s sales and profit estimates for the all-important holiday quarter.
Thus, Mark Zuckerberg’s net worth increased from $4.85 billion to $46.25 billion, as Facebook stock skyrocketed after the markets closed in response to Facebook’s strong quarterly earnings report. That puts Zuckerberg more than $2.5 billion dollars ahead of Ellison, who has a net worth of $43.6 billion.
Zuckerberg achieved this feat of becoming the world’s richest person and fourth wealthiest in the Unites States while he was still on his two-month paternity leave.
Facebook announced that it made more than $1bn in quarterly profit for the first time, and its revenues increased by 52 per cent. The increase smashed even the most optimistic predictions.
The 31 year old Harvard graduate, who is now worth $2.5bn (£1.75bn), has become the youngest person on the world’s top ten richest list where he sits above Google founder Larry Page, the Koch brothers and most recently, Oracle’s Larry Ellison.
He was first added to the top 10 richest people in America in September 2015. And in November he was first on Forbes magazine’s list of the 40 most successful young entrepreneurs in the US. Zuckerberg now joins fellow tech entrepreneurs Bill Gates, Jeff Bezos and Larry Page on the list.
We would recall that Mark Zuckerberg announced last month with the birth of his first child that he and his wife plan to give 99% of his Facebook shares, then valued at $45 billion to a new philanthropic initiative focused on advocacy and investments for the public good.
Meanwhile, The richest person in the world remains Bill Gates, who has a net worth of $78 billion, according to Bloomberg. He’s followed by Amancio Ortega ($70 billion), Warren Buffett ($59 billion), Jeff Bezos ($52 billion) and Carlos Slim ($48 billion).
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