FB Stock Makes Mark Zuckerberg Even Wealthier
Over the last year, Facebook Inc (NASDAQ:FB) left the rest of the market eating its dust. The sharp spike in FB stock gave CEO Mark Zuckerberg more than bragging rights; it made him the fourth richest person in the world.
His wealth catapulted after Facebook beat earnings expectations last week. The 31-year-old founder/CEO is now worth $50.0 billion, although most of it is on paper. (Source: “Zuckerberg Tops Bezos as World’s Fourth Richest,” Bloomberg, February 2, 2016.)
He also jumped up the world’s list of wealthiest people by 11 spots, moving from 15th to fourth. To put that into context, he surpassed Amazon.com, Inc. CEO Jeff Bezos and business magnate Carlos Slim.
Mark Zuckerberg Is Laughing All the Way to the Bank
The shift marks a turnaround for Jeff Bezos, who climbed the list like an Appalachian monkey in 2015. His net worth had doubled as AMZN stock shot through the roof, but the company’s shares slid 8.3% this year.
Zuckerberg’s ascension is part of a larger story of wealth creation: the technology revolution.
Four out of the world’s five largest companies are in the technology sector. In order of market value, they are Alphabet Inc and Apple Inc. (vying for top place), followed by Microsoft Corporation, and then Facebook Inc.
On the individual side, five of the top 10 hail from technology. Sergey Brin and Larry Page built Google, Bill Gates founded Microsoft, Bezos has Amazon, and then there’s Mark Zuckerberg with Facebook Inc. All five founded huge technology empires to become the world’s wealthiest people.