Mark Zuckerberg becomes a Centibillionaire

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Mark Zuckerberg becomes a Centibillionaire
Mark Zuckerberg becomes a Centibillionaire

Mark Zuckerberg becomes a Centibillionaire

Mark Zuckerberg’s net worth passed $100 billion for the primary time. Thursday after Facebook Inc. hit a record high on optimism about the discharge of its TikTok competitor Reels.

The 36-year-old joins fellow tech tycoon, Jeff Bezos and Gates in their centibillionaire status, as these are the only people in the world who presently have centibillionaire status, consistent with the Bloomberg Billionaires Index. Zuckerberg’s fortune is essentially derived from his 13% stake in Facebook.

The owners of America’s largest technology companies have enjoyed an amazing accumulation of riches this year because the coronavirus pandemic drives more people online, despite the U.S. economy contracting at its fastest pace on record. Zuckerberg has gained about $22 billion this year, while Bezos is up quite $75 billion.

Mark Zuckerberg becomes a Centibillionaire

These numbers have placed Big Tech under increased investigation, with Zuckerberg, Bezos, Apple Inc. Chief Executive Officer, Tim Cook and Alphabet Inc. head Sundar Pichai attested before Congress last month to defend allegations that asserts that their power and fame have lost control.

Apple, Amazon.com Inc., Alphabet, Facebook, and Microsoft Corp, which are the five largest American tech companies — . — presently have market valuations like about 30% of U.S. gross domestic product, nearly double what they were at the top of 2018.

U.S. Senator Bernie Sanders, however, intends to initiate legislation to tax what he called “obscene wealth gains” during the coronavirus crisis. The “Make Billionaires Pay Act” would tax 60% of the rise within the ultra-wealthy’s net worth from March 18 through the top of the year and use the revenue to cover out-of-pocket health-care expenses of all Americans.

Mark Zuckerberg becomes a Centibillionaire

Zuckerberg, who founded the social media giant from his Harvard University dormitory in 2004, has said he plans to offer away 99% of his Facebook shares over his lifetime.

Even overseas, tech giants are among the highest gainers this year. Tencent Holdings Ltd. CEO Pony Ma has added $17 billion, taking his fortune to quite $55 billion, while the wealth of Pinduoduo Inc.’s Colin Huang has gained $13 billion to $32 billion. India’s Mukesh Ambani has become $22 billion richer as the digital unit of his Reliance Industries Ltd. got investments from Facebook and Silver Lake. He’s now worth $80.3 billion.

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