MARK ZUCKERBERG’S NET WORTH JUMPS BY $5BN IN 2017

Culled from Forbes

In the first two weeks of 2017, the Facebook founder’s net worth has soared by nearly $5 billion, by far the biggest gain of any person in the world. Bolstered by climbing revenues and a series of bullish analyst reports, Facebook’s shares are inching closer to October’s all-time high.

 

As a result, Zuckerberg, who owns 410 million company shares, has more than recouped the losses he suffered in the weeks following Donald Trump’s election, when his net worth fell 7% to $49 billion. He is now worth an estimated $53.8 billion, according to FORBES’ real-time rankings of the world’s billionaires, and clocks in as the planet’s fifth-richest person; Zuckerberg trails only Bill Gates, Warren Buffett, Jeff Bezos and Amancio Ortega of Spain, each of whom holds a fortune of more than $70 billion.

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Zuckerberg’s $5 billion surge vastly outpaces the gains of any other individual on the FORBES billionaires list, based on data compiled between the start of normal trading hours on January 3 and the end of normal trading at 4:00 P.M. EST on Friday, January 13.

Of course, Facebook’s spiking share price cannot be attributed to any single event, but the company has received a string of positive press as of late for its efforts to tackle the proliferation of fake news content on its site. On Wednesday it unveiled a new “journalism project,” with the goal of improving its relationship with the media and increasing “news literacy.” The initiative follows a previously announced plan to “[disrupt] fake news economics” by preventing abusive media outlets from using Facebook’s ad-placing technology.

Zuckerberg, who famously founded the social media giant as a 19-year-old Harvard undergrad, has watched his personal fortune consistently rise year after year. In 2016 he cracked the top five on The Forbes 400 for the first time, placing fourth behind Gates, Buffett and Bezos. If Facebook maintains its current trajectory, he may soon place even higher.

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