Facebook chief Mark Zuckerberg scored a whopping $3.4 billion (£2.5 billion) in just over an hour on Wednesday after the social network giant posted some rather impressive second-quarter earnings.
Pushing the founder and CEO’s net worth to an estimated new high of $56.7 billion (£42.9 billion), the gains bolster Zuckerberg’s position as the world’s fifth-richest person, behind founder and CEO of Amazon.com, Jeff Bezos, who is estimated to be worth $64 billion.
According to Forbes , Facebook’s stock price rocketed 6.5% in after-hours trading to $131.40 at around 5pm yesterday, after the company announced that revenues and earnings had exceeded analysts’ expectations due to unprecedented gains in mobile ad revenue.
Facebook’s impressive second quarter earnings included a rise in revenue of 59% to $6.44 billion, topping the $6.02 billion that analysts predicted. Profits increased, too, soaring to $2.1 billion, which also exceeded analysts’ estimates.
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