BrandArena: Facebook’s Mark Zuckerberg Fortune Rises To $33.3Billion

Tuesday, 29 July 2014

Facebook’s Mark Zuckerberg Fortune Rises To $33.3Billion

Mark Zuckerberg
Facebook CEO Mark Zuckerberg added $1.6 billion to his fortune since the social network closed at record high on Thursday. The author of The Facebook Effect, David Kirkpatrick, said the 30-year-old chairman is just getting started and he is going to become “the richest person on the planet.”

The company set a new record and gained a larger market capitalization than AT&T, Coca-Cola and IBM. Over a decade since Facebook was created, the social network is close to the $200 billion-plus club. Apple, Google and Microsoft are in this club. The company’s market capitalization is now worth $192 billion.

In the second quarter of 2014, mobile promotions revenue was 62 percent derived from advertisement sales. In the prior period the number was 59 percent. These promotions are one of the highlights of the company’s earnings. The California-based social network’s income has grown from $562 million to almost $1.5 billion in the last year. Facebook’s costs, meanwhile, have risen 21 percent between April and June of 2013 and 2014. In itself, the company cost-base for generating sales increased modestly and Facebook made more in sales this year than previously.

Mark Zuckerberg added $1.6 billion to his fortune and Facebook CEO subsequently surpassed Google co-founders Sergey Brin and Larry Page, according to the Bloomberg Billionaires Index. At the age of 30, the chairman has a net worth $33.1 billion, as Forbes announced, moving him past 40-year-old Brin and Page, 41. He is richer than Jeff Bezos, chief executive on Amazon, as well. On Thursday Amazon reported its biggest loss since 2012 considering Bezos built more distribution warehouses, developed new tablets, smartphones and added online grocery deliveries. The company had a quarterly loss of $126 million even as revenue up 23 percent. A year earlier Amazon loss’ was $7 million.

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