Facebook's Zuckerberg Gets $3.2B Richer in Single Day

Image: Facebook's Zuckerberg Gets $3.2B Richer in Single Day

Friday, 31 Jan 2014 10:07 AM

By Drew MacKenzie

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Facebook founder Mark Zuckerberg became $3.2 billion richer on Thursday after the company's stock soared by 14.1 percent to $61.08 a share.

The stock rise was credited to its quarterly results showing that revenues increased by 63 percent to $2.59 billion, beating analysts' estimates of $2.35 billion in projected sales, Bloomberg reports.

The Bloomberg Billionaires Index says the 29-year-old chief executive of the social networking company is now worth around $27.4 billion. Last year alone, he added $12.4 billion to his estimated net worth.

"He has more wealth than anybody could ever hope to use in a lifetime," said James Cody, a managing director of estate, trust, and philanthropy services at Harris myCFO Inc. of Palo Alto, Calif. "What he has done with his wealth so far speaks to the fact that he'll do more good for charitable purposes."

Zuckerberg topped the charitable giving list of American philanthropists last year, including a donation last month of $1 billion in Facebook shares to the Silicon Valley Community Foundation.

Business Insider said the Menlo Park, Calif.-based Facebook, which has only been in existence for 10 years, is worth around $150 billion, probably reaching that total faster than any company in history. The report estimates that Zuckerberg owns about 500 million shares of Facebook.

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