Mark Zuckerberg gets $3.8 billion richer, quickly
Facebook's latest earnings set the stock soaring, giving the CEO's personal fortune a nice boost in one day.
Thanks to a nearly 30% leap in the company's stock price Thursday, Bloomberg News estimates Zuckerberg's fortune swelled by $3.8 billion, which coincidentally is the same amount that AT&T (T) reported in net income in its most recent quarter and the size of Philadelphia's budget.
Keep in mind that figure is based on Thursday's jump in Facebook's stock, and many Wall Street analysts believe the shares have more room to run.
Zuckerberg, 29, has eclipsed Microsoft (MSFT) co-founder Steve Ballmer, 57, and Dell (DELL) founder Michael Dell, 48, on the Bloomberg Billionaires Index. (Microsoft owns and publishes moneyNOW, an MSN Money site.) He now ranks 42nd, with a net worth of $16.8 billion. Zuck's fortune is up by 37% so far this year.
That's not too shabby for someone whose company was written off as irrelevant as recently as a few months ago.
Zuckerberg and his wife, Priscilla, have said they'll donate most of their fortune to charity. In 2011, he pledged $100 million to the Newark, N.J., school system. And the Silicon Valley Community Foundation got almost $500 million in Facebook stock from the billionaire in December.
Jonathan Berr does not own shares of the listed stocks. Follow him on Twitter @jdberr.
Is he just stock paper rich or cash rich? He pays donation by giving stock....I need some of that if I can pay my bills with it. It reminds me of when my bank said my house was worth $460k, then 6 months later...oops...we meant $150k our bad. So unless it is in spendable form...don't count on it. Nothing is every guaranteed, but it sure sounds and looks good, heck even gold can take a turn for the worst.
Funny, all of you "people" talk about how you don't want to government to be able to track your movements, yet you'll plaster your personal life all over this garbage website for everyone and their grandma to see. Too bad you're all to much of a bunch of backbirths to understand hypocrisy.
and the Jewish guy will continue to get richer through all of you guys that have a Facebook account and support his company with your subscriptions.I used to have a Twitter account,but I had to close it 'cause I realized that meeting people through these social networks is just a complete waste of time.
if you wanna meet people,all you have to do is just to go out more often or socialize with your co-workers outside work.I never opened an account with Facebook and never will.
Man it must be nice to be that rich, what do you do with all those hundreds you'll never see?
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[BRIEFING.COM] The stock market finished an upbeat week on a mixed note. The S&P 500 added just over a point, holding its weekly gain at 1.0% while the Nasdaq lost 0.4%.
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