Facebook founder joins exclusive $100billion club
By Rob Freeman | 7th August 2020
Facebook founder Mark Zuckerberg has become the third person to see his personal wealth top $100billion.
He topped the landmark - around £76billion - after Facebook's shares rose by more than six per cent following the US rollout of Instagram Reels which is designed to rival TikTok.
Mr Zuckerberg, who holds a 13 per cent of the social network company, has seen his personal wealth grown by $22billion this year, according to Bloomberg.
He follows Amazon founder Jeff Bezos and Microsoft's Gates in reaching the $100billion mark.
Bloomberg figures say Mr Bezos' fortune has risen by more than £75billion throughout the year after Amazon prospered in the rise in online shopping and deliveries during lockdown.
Reels is a short-term video feature within the photo-sharing app Instagram which is owned by Facebook.
It is seen a counter to the Chinese-owned TikTok which has been decried by President Donald Trump as a threat to US security.
Facebook is among the five largest US tech companies - alongside Apple, Amazon, Google parent company Alphabet and Microsoft - whose market valuations are around 30 per cent of US GDP.
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