Mark Zuckerberg is now the 3rd richest person in the world after his fortune grew $30 billion since the coronavirus crisis began
Mark Zuckerbergis now worth $87.8 billion, making him the third-richest person in the world, according to the Bloomberg Billionaires Index.
- Bloomberg shows that Zuckerberg's net worth grew by $30 billion since March 17, the day after the San Francisco Bay Area became the first major US region to tell residents to shelter in place due to the
- At the time, the US death toll from
COVID-19had just reached 100. Today, more than 95,000 people have died in the US from the coronavirus, with 1.6 million cases reported.
- Despite the pandemic's blow to the economy, Facebook reported better-than-expected numbers for both revenue and users in first-quarter earnings, and added $44 billion to its market value the next morning.
Despite the economic fallout from the current global pandemic, Facebook CEO Mark Zuckerberg has added more than $30 billion to his wealth in just two months.
The surge in Zuckerberg's net worth has earned him the title of third-richest person in the world, according to the Bloomberg Billionaires Index ranking updated on May 21. Zuckerberg is now worth an estimated $87.8 billion, rising above
However, Facebook said it experienced a "significant reduction" in advertising demand over the last three weeks of Q1 2020. While Q1 earnings for tech companies and social platforms were relatively promising across the board, significant impact to the economy remains to be seen. Second-quarter results — covering business from April 1 to June 30 — may better represent the affect the coronavirus pandemic has had on businesses.In the last two months, Facebook has also announced expansions of its business into ecommerce and video chatting. Facebook recently debuted Messenger Rooms, a video chat service for up to 50 people at the time as services like Zoom and Houseparty see significant bumps in use. Just this week, Facebook said that the core platform, as well as Instagram, were getting an e-commerce feature called Shops that would allow businesses to add virtual storefronts to their profiles.
Zuckerberg is third on the rankings of the world's richest behind Amazon CEO Jeff Bezos and Microsoft cofounder Bill Gates.Read the original article on Business Insider
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