Zuckerberg adds $4.5 billion to fortune as Facebook shares surge

Mark Zuckerberg

Mark Zuckerberg, the chairman of Facebook Inc., has added $4.5 billion to his fortune as Facebook shares rise.

This is coming after the technology entrepreneur fortune declined about $20 billion in 2018

Bloomberg earlier reported how Zuckerberg saw the biggest loss in 2018, collectively dropping $76 billion, largely because of December’s market rout.

Mark Zuckerberg saw the sharpest drop in 2018 as Facebook Inc. veered from crisis to crisis. His net worth fell nearly $20 billion, leaving the 34-year-old with a $53 billion fortune.

Today in the New York trading, Facebook Inc. shares leapt, increasing his net worth by about $4.6 billion, after the social-networking firm reported first-quarter earnings Wednesday night that won near-unanimous praise from Wall Street analysts.

According to Bloomberg, that brings Mr Zuckerberg’s year-to-date advance to $24 billion, the most of anyone on the Bloomberg Billionaires Index.

Mr Zuckerberg’s gain tops that of Bernard Arnault, the chairman of the world’s largest luxury company; Louis Vuitton, who has seen his fortune increase $23 billion in 2019.

Jeff Bezos who as of today ranks number one of the Bloomberg billionaires index would have topped both except for the finalisation of his divorce from his wife, MacKenzie Bezos, which cut his net worth by $36 billion this month and wiped out his 2019 gains.

Facebook shares were up 7.2 per cent to $195.78 at 9:55 a.m. and have climbed 49 per cent this year.

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