Facebook Inc (NASDAQ:FB) CEO Mark Zuckerberg has added another $1.6 billion to his worth superseding Google founders Sergey Brin and Page and Amazon CEO Jeff Bezos on the Bloomberg Billionaires Index with worth of $33.3 billion. In the second-quarter earnings report released Wednesday, Facebook posted strong mobile advertising sales, performing above the analysts’ expectations, taking shares even higher. The company posted profits of $839.60 million during the three months ended June 30, 138% increase from the previous year.
Zuckerberg fortune depends on shares
Zuckerberg sits on 16th spot in the billionaire index and Google Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) founders are ranked 17th and 18th. Bezos is No. 20 while Microsoft Corporation (NASDAQ:MSFT) chairman Bill Gates remains the world’s richest person with $84.7 billion fortune.
Zuckerberg gets less than a million in compensation at Facebook, so rise and drop in his fortune is in direct correlation with shares value. Only last year, he sold some shares in exchange for $3.5 billion. Shares of Facebook had been volatile since its public offering two-years back, when it opened at $40.33 per share and went down $20 within a year.
According to Bloomberg, in the past 12- months Facebook has ballooned 183%. Not just Zuckerberg, but co-founder Dustin Moskovitz is, also, more than worth $6 billion at the age of 30. Chief operating officer, 44-year-old Sheryl Sandberg has stock holding of 9.9 million shares worth around $740 million of which she has already turned $550 in cash by selling the shares.
Will Facebook make Zuckerberg richest?
An interesting report was presented by Bloomberg wealth reporter David de Jong on Twitter saying that if Zuckerberg wants to be the richest person on the planet then Facebook stock has to go up $200. He added that when share ticks $200, Zuckerberg will overpower Bill Gates to be the world’s richest man, keeping everything else static now.
At present, Facebook stock is trading around $76.20, which means it needs to rise triple-fold. Current market capitalization of the company is $195.4 billion, and if the stock rallies to $200, market cap will grow to $500 billion.
‘[Zuckerberg is] just getting started,’ David Kirkpatrick, author of The Facebook Effect told Bloomberg.com. ‘He’s going to become the richest person on the planet.’
Kirkpatrick, also, said that the company’s success is trending upwards by minutes, which is unstoppable.