Mark Zuckerberg’s Net Worth Skyrocketed $3 Billion During His Senate Testimony and Could Rise Again Today
Mark Zuckerberg’s Congressional testimony on Tuesday paid off—quite literally.
Zuckerberg’s net worth was a huge beneficiary of the Facebook CEO’s appearance before the Senate Commerce and Judiciary committees, when he was quizzed by lawmakers on how the social media site handles data privacy. It rose $3 billion over the course of the hearing, according to MarketWatch’s calculations.
Following a slew of training from a variety of experts, Zuckerberg apparently assuaged some concerns of Facebook investors as the company’s stock jumped over the course of the Senate hearing, closing at $165 a share, or up 4.5%. That brings the value of Facebook to its highest closing price since March 21—before the Cambridge Analytica scandal broke.
Of course, the gain didn’t just benefit the company itself—its market cap swelled by $20 billion—it also served to further line the pockets of Zuckerberg, whose total fortune is now pegged at $66 billion, making him the world’s seventh richest person.
Zuckerberg is due to face the House Energy and Commerce Committee on Wednesday, and if Tuesday’s results are any indication, the second hearing may lead to yet another bump in Zuckerberg’s net worth.