Facebook CEO Mark Zuckerberg is $1.6 billion richer in one day


Facebook CEO and cofounder Mark Zuckerberg’s wealth has reached another milestone. The company’s stock price continues to reach new highs topping $76 a share in early trading on Thursday and has spiked his fortune.

According to Blooomberg’s Billionaires Index, as of Thursday, Mark at No. 16 has a fortune worth $33.3 billion and now he is worth more than Google cofounders. While Larry Page is worth $33.2 billion, Sergey Brin’s fortune is estimated at $32.9 billion.

Currently with worth of $400 billion, the social networking site may one day become more worth than Google. Zuckerberg has a share of 22% of Facebook share making him richer as more users log into the site.

Mark is also wealthier than Amazon CEO and founder Jeff Bezos at No. 20. If Facebook stock reaches to $200, then Mark will become the richest man in the world, taking over Bill Gates or Carlos Slim.
Toppinig analyst estimates, Facebook reported a second-quarter revenue of $2.91 billion on Wednesday. Facebook revenue was predicted to be around $2.8 billion by analysts. For next quarter, Facebook is expected to make more revenue by video ads which were rolled out from March.

Gaining with mobile advertising, Facebook revenue was up by mobile advertising was up by 61%, with a 67% increase of total revenue. The stock price increased by 183% in the past 12 months.

Ads appearing on photo-sharing service of Facebook, Instagram which is a good foundation for future revenue growth. Also with addition of Whatsapp messenger, there is a scope for implementing ads in future.