Facebook’s Zuck: Now worth more than the Google guys
Facebook (FB) CEO Mark Zuckerberg has had a good week.
The hoodie-clad CEO has seen his company’s strong week on the stock market lift him to a higher ranking on a list of the world’s wealthiest billionaires.
Facebook’s stock soared this week after the social media behemoth’s latest earnings report showed 61% revenue growth in the second quarter and profits that more than doubled year-over-year on stronger mobile ad sales. The 30-year old Facebook chairman, who owns almost 30% of the company, saw his personal wealth surge as the company’s stock rose nearly 6% since Wednesday’s close, finishing at a record high of $74.98 on Thursday. Facebook’s shares have more than doubled in value in the past twelve months and are up 38% year-to-date.
The trading boost has helped Zuckerberg shoot up Bloomberg’s list of wealthiest billionaires, jumping ahead of Google (GOOG) cofounders Larry Page and Sergey Brin to put the Facebook chairman at 16th on the list with a net worth of $33.3 billion. Bloomberg reports that Zuckerberg has added about $1.6 billion to his personal fortune this week.
Zuckerberg is also ahead of Amazon CEO Jeff Bezos, who is 20th on the list with $32.6 billion and behind the Google cofounders and Saudi businessman Alwaleed Al Saud. Unlike Facebook, Amazon’s shares have plunged in the wake of its disappointing second-quarter earnings report, which revealed greater-than-expected losses despite increased sales. On Friday afternoon, the day after the company’s earnings came out, Amazon stock was down more than 11%, erasing roughly $15 billion in shareholder value.
Former Microsoft Chairman Bill Gates tops Bloomberg’s billionaires list with a net worth of $84.7 billion.