Social-Media
Mark Zuckerberg is currently the third richest person in the world since the Coronavirus crisis began, after his wealth grew $30 billion
The CEO of Facebook is worth 87.8 billion dollars, making him the world's third most powerful individual, behind Jeff Bezos and Bill Gates.
According to the Bloomberg Billionaires Index, Facebook CEO Mark Zuckerberg is now worth $87.8 billion and is the world's third-largest.
Bloomberg has announced that Zuckerberg's net wealth has increased $30 billion as of 17 March, the day following the outbreak of coronavirus, Zuckerberger became the world's first major US city.
The US COVID-19 death toll had just reached 100 at that time. More than 95 000 deaths of coronavirus have now been confirmed by more than 95 000 people in the US.
Despite the blow to the economy, in the first quarter, Facebook reported better than expected revenue and users figures, adding $44 billion to its market value the following morning.
In just two months, Facebook CEO Mark Zuckerberg, despite the economic impact of the current global pandemic, has added more than $30 billion to his wealth.
According to the Bloomberg Billionaires Ranking, which was revised on May 21, Zuckerberg's net worth rise won him the title of the third most rich individual in the world. It's now estimated that Sugarberg is worth $87.8 billion above billionaires such as Warren Buffet, CEO of Berkshire Hathaway, and Bernard Arnault, Mogul fashion.
In the beginning of the Silicon Valley and Bay Area, the figure was $57.5 billion, and Bloomberg's estimation shows that Zuckerberg was placed five on the list. The coronavirus epidemic is contained in California still under lock-out, and the CEO of Facebook has added billions to its income.
The increase in the rankings of Zuckerberg is likely due to growth in his company, even at a time when almost 40 million US workers were released. The first-quarter earnings reported on April 29 were better than anticipated from Facebook.
It has achieved $17.74 billion and attracted 1.73 billion users for the first 3 months of 2020, meeting the expectations of Wall Street in terms of revenue and daily active users. The company also announced that its applications, including Instagram , WhatsApp and Messenger, exceeded 3 billion monthly users. In the next morning the Facebook stock shot up to 8%, making it worth $44 billion.
However, during the last three weeks of Q1 2020, Facebook said that advertising demand has "significantly reduced."
Although Q1 revenues were generally fairly positive for innovations and social media, the economic effect remains significant. The results of the second fourth quarter, covering companies from April 1 to June 30, will more likely reflect the effects on companies of the coronavirus pandemic.
Facebook has also revealed developments in e-commerce and video messaging over the past deux months. The recently launched Messenger Rooms, a video chat service for up to 50 people, Facebook is currently experiencing significant bumps in service activities like Zoom and Houseparty.
Just this week, Facebook said both Instagram and the core platform received an eCommerce function called Shops, which would allow companies to add virtual storage faces to their profiles.
Behind Amazon CEO Jeff Bezos and Microsoft co-founder Bill Gates is Zuckerberg third in the ranks of the world's richest.
