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.
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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.
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