Skip navigation

Gloucestershire Business News

Facebook founder joins exclusive $100billion club

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.

Related Articles

Coronavirus LIVE Updates: The latest news from across Gloucestershire on Friday, September 25 Image

Coronavirus LIVE Updates: The latest news from across Gloucestershire on Friday, September 25

The latest important news and updates from across Gloucestershire as the coronavirus crisis continues.

Marketing Gloucester report passed on to police Image

Marketing Gloucester report passed on to police

The leader of Gloucester City Council has confirmed a report into the financial collapse of Gloucester Marketing has been referred to Gloucestershire police.

Gloucester construction company on track to deliver 258,000sq ft Silverstone Park Image

Gloucester construction company on track to deliver 258,000sq ft Silverstone Park

An enterprise zone development being built by Barnwood Construction is due to be completed by its December deadline.

Council agrees delayed plan for next four years Image

Council agrees delayed plan for next four years

Cotswold District Council has approved its key objectives over the next four years after its agreement was delayed and updated due to the onset of the coronavirus pandemic.

Copyright 2020 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.