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July 25, 2014

Facebook’s Zuckerberg Richer than Google Top Bosses

Facebook CEO Mark Zuckerberg has surpassed Google co-founders Larry Page and Sergey Brin on the financial ladder.

 Debubuntu. via Compfight cc

Debubuntu. via Compfight cc

The 30-year-old is now worth to $33.3 billion after a stellar day for his company’s stock Thursday, added $1.6 billion to his net worth pushing him up to 16th place on the Bloomberg Billionaires Index. The Googlers are 17th and 18th on the list while Amazon CEO Jeff Bezos is 20th.

Facebook’s stock has skyrocketed 83 percent in the past year. The social network had a stellar second quarter, pulling in $2.9 billion in revenue, topping analysts’ expectations of a $2.8 billion. Profit wise, Facebook generated $791 million, according to the results announced earlier this week.

Advertising revenue accounted for $2.68 billion of the final tally, nearly a 70 percent jump from the same quarter last year. Interestingly, mobile advertising revenue represented roughly 62 percent of the second quarter’s advertising revenue that, in itself, is a 41 percent jump from the advertising revenue in 2013′s second quarter.

David Kirkpatrick, author of The Facebook Effect, told Bloomberg that Zuckerberg would eventually be “the richest person on the planet.”

“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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