As stocks for Facebook and Amazon rallied on Wednesday, both Mark Zuckerberg and Jeff Bezos smiled to the bank as the market capitalizations of both companies crossed the $300 billion mark.
Mark Zuckerberg, Jeff Bezos gain over $1 billion in net worth after stocks rally
Facebook shares reached $107.75 in after-hours trading, after quarterly results showed that Zuckerberg’s mobile advertising engine is on song.
Facebook founder and CEO, Mark Zuckerberg
Facebook shares reached $107.75 in after-hours trading, after quarterly results showed that Zuckerberg’s mobile advertising engine is on song.
That ultimately translated into a market capitalization of $303.6 billion, taking the social media giant above General Electric.
ADVERTISEMENT
That gain, in addition to the state of the stocks before the quarterly results were announced, added over $1 billion to Zuckerberg’s net worth.
According to Forbes, Amazon had jumped into the $300 billion club earlier in the day when it’s stock reached as high as $645.93, adding about $1.3 billion to founder Bezos’ net worth.
These gains in share price means six of the eight companies with over $300 billion in market capitalization are from the tech sector.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
Lagos NCS visits family of stampede victim, promises nonstop financial support
Husband appeals to I-G to find missing Police wife who went on official duty
ASUU Sokoto demands council reconfirmation, payment of allowances
Yahaya Bello: Charge, prosecute US school for money laundering - Sowore to EFCC
Don't hide deformed kids, they can contribute to nation's growth - Expert
Tragedy as suspected bandits ambush, kill army commander in Katsina
Adeleke wants residents to fish out water pipeline vandals round the clock
APC uncover how Kano govt mobilises protest against Ganduje in Abuja
Governor Mbah swears in new ENSIEC officials, stresses on credible service
ADVERTISEMENT