When
Google founders Sergey Brin and Larry Page became billionaires many
years ago, Facebook founder Mark Zuckerberg was still struggling with
the social networking site. But now he's richer than them, this is
according to Bloomberg. Check out the full report from Bloomberg
below...
The Facebook Inc. chairman added $1.6 billion to his
fortune yesterday after the world’s largest social network closed at a
record. The surge elevated the 30-year-old’s net worth to $33.3 billion,
moving him past Brin, 40, and Page, 41, as well as Amazon.com Inc.
Chief Executive Officer Jeff Bezos, 50, on the Bloomberg Billionaires
Index. Zuckerberg is No. 16 on the ranking. The Google founders are 17th
and 18th. Bezos occupies the 20th spot.
“He’s just getting started,” David Kirkpatrick, author of “The Facebook Effect,” said in a telephone interview.
“He’s going to become the richest person on the planet.”The
Menlo Park, California-based company posted second-quarter sales that
soared 61 percent to $2.91 billion yesterday, exceeding analysts’
average estimate of $2.81 billion. The company’s revenue gain follows
Google’s results last week, when the Web-search company posted sales
that topped analysts’ estimates, largely based on the strength of online
ads.
Facebook has jumped 183 percent in the past 12 months, the
biggest rally in the Standard & Poor’s 500 Index, according to data
compiled by Bloomberg. The company trades at 82-times reported earnings,
compared to a multiple of 18.2 for the S&P 500. Google is up 7.5
percent for the year.
Mobile promotions accounted for 62 percent
of ad sales, up from 59 percent in the prior period. Net income more
than doubled to $791 million, with profit excluding some items at 42
cents a share, above the projection of 32 cents. In total, Facebook
accounted for 5.8 percent of worldwide digital ad revenue in 2013, up
from 4.1 percent in 2012, according to reports.
The company’s
performance also propelled the fortunes of other Facebook shareholders,
including Dustin Moskovitz, the 30-year-old who started the social
network with Zuckerberg at Harvard University a decade ago, and Sheryl
Sandberg, Facebook’s 44-year-old chief operating officer who became one
of the world’s youngest female billionaires in January. Sandberg owns
about 9.9 million shares valued at $740 million and has collected more
than $550 million in share sales.
“The company’s success is growing by the minute,” Kirkpatrick said.
“There’s no sign it’s going to slow anytime soon.”
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