Facebook Market Cap Crosses $300 Billion
In case you haven’t noticed, Facebook Inc’s (NASDAQ:FB) market capitalization just crossed the $300-billion mark.
Following a strong earnings report on Thursday, FB stock surged 15.52%. The company’s market capitalization now stands at a record $310.4 billion.
For perspective, Facebook is now bigger than Walt Disney Co (NYSE:DIS), Twenty-First Century Fox Inc (NASDAQ:FOX), Viacom, Inc. (NASDAQ:VIA), Time Warner Inc (NYSE:TWX), and CBS Corporation (NYSE:CBS) combined!
In July 2006, Yahoo! Inc. (NASDAQ:YHOO) offered $1.0 billion to buy Facebook. At the time, analysts mocked Facebook founder Mark Zuckerberg for rejecting the deal. He believed the company would be worth a lot more than $1.0 billion. (Source: “11 Companies that Tried to Buy Facebook Back when it was a Startup,” Business Insider, May 13, 2010.)
Source: Google Finance
They’re not laughing anymore. Since Yahoo’s offer, the value of Facebook has increased 300-fold. Since the company went public on May 18, 2012, its stock price has skyrocketed more than 190%.
The success of Facebook’s stock also made many billions for Zuckerberg. Yesterday’s surge alone added $6.0 billion for the Harvard dropout. Zuckerberg’s net worth now stands at $47.6 billion, making him the sixth-richest person on Earth. (Source: “Mark Zuckerberg is $6 Billion Richer than He Was a Day Ago,” Time, January 28, 2016.)