New Delhi: Facebook founder Mark Zuckerberg, 36, joined the very exclusive centibillionaire club on Thursday, as his net worth has surpassed US $ 100 billion.
This comes after Facebook launched Instagram Reels, a competitor to China’s TikTok app. The Chinese app is is being banned in several big markets, including India and in the US. Shares of the social media giant jumped by 6% on investor optimism over the prospects of the new launch.
Zuckerberg, is now privy to the club which has only two other members, Amazon’s founder, Jezz Bezos, who net worth is $ 190 billion and Microsoft’s founder, Bill Gates, who is worth $ 120 billion, according to Bloomberg Billionaires Index. All the members of the centibillionaire club are from the technology industry, based out in US.
Zuckerberg’s fortune is derived from the 13% stakes which he holds in Facebook. His net worth has risen by about $22bn this year, while Bezos’s fortune has jumped by over $75bn. According to reports, Apple’s valuation could hit $2tn in trading, the first US company to reach such a milestone.
According to the Guardian, US senator Bernie Sanders wants to introduce a legislation to tax what he calls “obscene wealth gains” during the coronavirus crisis, despite the US economy shrinking at its fastest pace on record. The “Make Billionaires Pay Act” would impose a 60% tax on wealth gains made by the super-rich from March 18 to the end of the year. The revenue would be used to cover the healthcare expenses of US citizens struggling to pay.