Mark Zuckerberg acquired $5.Three Billion Richer This Week Following …

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THE CHANGING FORTUNES OF THE WORLD’S RICHEST


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About Zuckerberg
Mark Elliot Zuckerberg (; born May 14, 1984) is an American media magnate, internet entrepreneur, and philanthropist. He is known for co-founding Facebook, Inc. and serves as its chairman, chief executive officer, and controlling shareholder. He also is a co-founder of the solar sail spacecraft development project Breakthrough Starshot and serves as one of its board members.Born in White Plains, New York, Zuckerberg attended Harvard University, where he launched the Facebook social networking service from his dormitory room on February 4, 2004, with college roommates Eduardo Saverin, Andrew McCollum, Dustin Moskovitz, and Chris Hughes. Originally launched to select college campuses, the site expanded rapidly and eventually beyond colleges, reaching one billion users by 2012. Zuckerberg took the company public in May 2012 with majority shares. In 2007, at age 23, he became the world’s youngest self-made billionaire. As of July 14th, 2020, Zuckerberg’s net worth was estimated at $88.2 billion and he is listed by Forbes as the 4th-richest person in the world. As of 2019, he is the only person under 50 in the Forbes ten richest people list, and the only one under 40 in the Top 20 Billionaires list.Since 2010, Time magazine has named Zuckerberg among the 100 wealthiest and most influential people in the world as a part of its Person of the Year award. In December 2016, Zuckerberg was ranked 10th on Forbes list of The World’s Most Powerful People. He has also been named at #7 in the Forbes’ Billionaires 2020 list.

Mark Zuckerberg Got $5.3 Billion Richer This Week Following …

About Billion
A billion is a number with two distinct definitions:

1,000,000,000, i.e. one thousand million, or 109 (ten to the ninth power), as defined on the short scale. This is now the meaning in both British and American English.
1,000,000,000,000, i.e. one million million, or 1012 (ten to the twelfth power), as defined on the long scale. This is one thousand times larger than the short scale billion, and equivalent to the short scale trillion. This is the historic definition of a billion in British English.American English adopted the short scale definition from the French. The United Kingdom used the long scale billion until 1974, when the government officially switched to the short scale, but since the 1950s the short scale had already been increasingly used in technical writing and journalism; the long scale definition still enjoys some limited usage in the UK.Other countries use the word billion (or words cognate to it) to denote either the long scale or short scale billion. For details, see Long and short scales – Current usage.
Milliard, another term for one thousand million, is still found occasionally in English, and is very common in most other European languages. For example, Bulgarian, Catalan, Croatian, Czech, Danish, Dutch, Finnish, French, Georgian, German, Hebrew (Asia), Hungarian, Italian, Norwegian, Polish, Portuguese, Romanian, Russian, Serbian, Slovak, Slovenian, Spanish, Swedish, Turkish and Ukrainian — use milliard (or a related word) for the short scale billion, and billion (or a related word) for the long scale billion. Thus for these languages billion is thousand times larger than the modern English billion. However, in Russian, while milliard (миллиард) is used for the short scale billion, trillion (триллион) is used for the long scale billion.

acebook cofounder and CEO Mark Zuckerberg, 36, briefly became the youngest centibillionaire in the world on Friday. His net worth crossed the $100 billion threshold two days after Instagram launched Reels, a feature almost identical to TikTok’s scrolling video platform, sending Facebook’s stock soaring 12% on Thursday and Friday.

Facebook shares came back to earth a bit Friday afternoon, but still ended the week 8% higher than the prior Friday, far outpacing the SP 500 (2.5%) and the Dow Jones Industrial Average (3.8%). Zuckerberg, who owns about 15% of the company, added $5.3 billion to his net worth between July 31 and August 7—making him the week’s biggest gainer Forbes estimates his net worth to be $98.6 billion.

Mark Zuckerberg Got $5.3 Billion Richer This Week Following …

Reels could not have come at a better time for Facebook. TikTok, the Gen Z-beloved app that is owned by Chinese tech company ByteDance, has become a target of President Donald Trump’s ire. Trump said on July 31  he would ban the app, deeming it a threat to national security (though some speculate his efforts are, above all else, retribution for the TikTok-enabled prank pulled on his Tulsa, Oklahoma rally in June). Late Thursday night, he made good on that threat, issuing an executive order that will prohibit Americans from doing business with ByteDance starting September 20. ByteDance has reportedly threatened to sue the U.S. government in response.

Zuckerberg may not be the only billionaire to profit from the TikTok drama. Microsoft, in which cofounder and former CEO Bill Gates still owns an estimated 1.4% stake, is in negotiations to buy the embattled app from ByteDance. On Sunday, the company said in a statement that it would seek to acquire TikTok service in Canada, Australia and New Zealand, in addition to the U.S., but the Financial Times reported Thursday that Microsoft is planning to take over the entire global business of TikTok. Gates, 64, has not yet seen a windfall in the market from the potential deal — Microsoft only rose 3.6% this week, leaving Gates worth $113.6 billion.

The world’s two remaining  centibillionaires saw gains this week as well. Jeff Bezos (net worth: $189.8 billion), whose fortune rose $2.6 billion in the past week, sold off $3.1 billion worth of Amazon stock on Monday and Tuesday. It remains unclear why he sold the stock, but he has promised to sell shares annually to fund his space exploration company, Blue Origin, and  Recode has reported that Bezos recently established a new corporation, Fellowship Ventures LLC, to be the vehicle for his $10 billion pledge to fight climate change. Meanwhile, LVMH chairman and CEO Bernard Arnault (net worth: $107.1 billion) regained some ground after a rough earnings report for the luxury conglomerate last week led to a $6 billion drop in his fortune. This week, his net worth rose by $2.2 billion as the stock partly recovered.


The net worth change is from close of markets Friday, July 31, to Friday, August 7.

NET WORTH | $98.6 BILLION, UP $5.3 BILLION

COUNTRY | UNITED STATES

SOURCE OF WEALTH | FACEBOOK


NET WORTH | $79.2 BILLION, UP $5.2 BILLION

COUNTRY | UNITED STATES

SOURCE OF WEALTH | BERKSHIRE HATHAWAY



NET WORTH | $80.4 BILLION, UP $2.9 BILLION

COUNTRY | INDIA

SOURCE OF WEALTH | OIL


NET WORTH | $189.8 BILLION, UP $2.6 BILLION

COUNTRY | UNITED STATES

SOURCE OF WEALTH | AMAZON


NET WORTH | $12.3 BILLION, UP $2.3 BILLION

COUNTRY | UNITED STATES

SOURCE OF WEALTH | CARVANA


NET WORTH | $107.1 BILLION, UP $2.2 BILLION

COUNTRY | FRANCE

SOURCE OF WEALTH | LVMH


NET WORTH | $17.3 BILLION, UP $2.2 BILLION

COUNTRY | CHINA

SOURCE OF WEALTH | E-COMMERCE


NET WORTH | $72.4 BILLION, UP $2.1 BILLION

COUNTRY | UNITED STATES

SOURCE OF WEALTH | MICROSOFT


NET WORTH | $11.9 BILLION, UP $2.0 BILLION

COUNTRY | CHINA

SOURCE OF WEALTH | EDUCATION TECHNOLOGY


NET WORTH | $24.8 BILLION, UP $1.8 BILLION

COUNTRY | RUSSIA

SOURCE OF WEALTH | INVESTMENTS