Facebook Founder, Zuckerberg Net Worth Hit $100bn | Lagos Post Online

Facebook Founder, Zuckerberg Net Worth Hit $100bn

The net worth of Facebook founder, Mark Zuckerberg has hit $100 billion (£76 billion), 16 years after he co-founded the company from his university dorm room.

Mark joins Amazon founder, Jeff Bezos and Microsoft’s Bill Gates in the “Centibillionaire Club”.

This latest boost to Zuckerberg’s wealth is coming after Facebook launched a new short-form video feature on Wednesday, SkyNews reports.

Instagram Reels is a rival to Chinese app TikTok and it prompted Facebook shares to jump more than 6 per cent on Thursday, having risen by almost 30 per cent this year.

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Zuckerberg owns 13 per cent of Facebook and the social media platform owns Instagram.

The 36-year-old’s personal wealth has gained about $22bn (£16.8 billion) this year, while Mr Bezos’s has grown by more than $75bn (£57 billion), according to Bloomberg.

The news comes after US President Donald Trump signed an executive order banning US transactions with ByteDance, the Chinese company that owns the video-sharing app TikTok.

The order, which will come into effect in 45 days, comes after his administration warned it was stepping up efforts to purge “untrusted” Chinese apps.

Tencent, which owns the WeChat app, is being targeted with similar measures.

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