Facebook’s Mark Zuckerberg’s fortune exceeds $100B – Bloomberg report

  • Mark Zuckerberg, the co-founder and CEO of the social media giant Facebook, has a net worth that exceeded over $100-billion
  • This estimate was based on the latest Bloomberg’s Billionaires Index
  • According to the business publication, the “record high” gain was due to the hype to Facebook’s upcoming app, “Reels,” an expected competitor of TikTok

A business publication estimated that Facebook’s Co-founder and CEO Mark Zuckerberg’s wealth already exceeded $100 billion.

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Based on the recent Bloomberg’s Billionaires Index, Zuckerberg’ already had a net worth of $102 billion. The business publication said that the “record high” net worth is largely due to Facebook’s upcoming application “Reels,” which is expected to become TikTok’s competition.

“The founders of America’s largest technology companies have enjoyed a mind-boggling accumulation of wealth this year as the conronavirus pandemic drives more people online, despite the U.S. economy contracting at its fastest pace on record. Zuckerberg has gained about $22 billion this year,” the report stated.

The Bloomberg said that the majority of Zuckerberg’s fortune came from his 13% shares in social media giant Facebook.

Facebook joins Apple, Amazon.com Inc., Alphabet, Facebook, and Microsoft Corp. as the five largest American tech companies. The five companies have a market valuations equivalent of about 30% of the U.S. gross domestic product.

Zuckerberg and his wife, Priscilla Chan, have donated more than $1 billion toward education and medical research. The couple made a multi-million-dollar donation to a San Francisco hospital later which was named after Zuckerberg.

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They also created the Chan Zuckerberg Initiative in 2015 which aimed to “personalized learning, curing diseases, and connecting people.” It was when they announced their organization’s launch, that Zuckerberg and Chan pledged to give away 99% of their Facebook shares to charity.

Zuckerberg and Chan were some of the first to sign the “Giving Pledge” back in 2010.