Saturday, May 23, 2020 15:21
I wrote – Mennat Allah Jamal:
The increase in Zuckerberg’s net worth earned the title the third richest person, according to the Bloomberg Billionaires Index updated on May 21.
Zuckerberg is now valued at an estimated $ 87.8 billion, rising above billionaires like Berkshire Hathaway CEO Warren Buffett and fashion Bernard Arnaud.
When Silicon Valley and the Gulf were first notified of earnings in mid-March, Zuckerberg was worth $ 57.5 billion, ranking fifth on the list, according to Bloomberg estimates.
California is still shutting down in an effort to contain the virus outbreak, but Facebook CEO nevertheless added billions to his wealth.
Zuckerberg’s increase in rating is likely due to his company’s growth during a period when 40 million US workers were laid off, Facebook posted better-than-expected earnings for the first quarter on April 29.
The company exceeded Wall Street expectations of revenue and daily active users, generating $ 17.74 billion and attracting 1.73 billion users in the first three months of 2020.
The company also reported that it reached 3 billion users per month across its suite of apps, including
That Instagram, WhatsApp and Messenger.
Facebook stock jumped by 8%, which brought the company $ 44 billion in market value added, yet Facebook said it saw a significant decrease in advertising demand during the last three weeks of the first quarter, while the first quarter earnings were for technology companies and platforms Social is relatively promising in all areas, there is still a huge impact on the economy.
Facebook also announced the expansion of its business in e-commerce and video chat, debuting in Messenger Rooms, a video chat service for up to 50 people at the time, and services such as Zoom and Houseparty experienced major bumps in use.
Zuckerberg is third in the list of the richest people behind Amazon CEO Jeff Bezos and co-founder of Microsoft Bill Gates.