Mark Zuckerberg, who has been the target of constant criticism since Facebook’s establishment, has surpassed $ 100 billion for the first time. The famous CEO’s wealth increase came after the release of Instagram Reels.
The coronavirus pandemic is giving many companies a hard time around the world, but despite this, the vast majority of billionaires continue to add wealth to their fortunes. According to a new report by Bloomberg, Facebook’s CEO Mark Zuckerberg also increased his net worth to $ 100 billion. It was previously known that the net fortunes of Amazon CEO Jeff Bezos and Microsoft co-founder Bill Gates exceeded $ 100 billion. Now Zuckerberg, the owner of social media and messaging platforms such as Facebook, Instagram, WhatsApp, joined the duo.
100 billion dollar threshold came after the release of Instagram Reels
Shares of the company rose 6 percent after Instagram posted Reels. This rise was most useful to Zuckerberg. Zuckerberg, who owns 13 percent of Facebook’s shares, managed to surpass $ 100 billion by growing his fortune with Reels.
We have seen that platforms such as Instagram, Facebook, WhatsApp, which are used by billions of people for hours every day, increase the number of users and usage time during the pandemic process. Although there were small fluctuations in advertising revenues, it seems that this process reflected positively on Facebook.
Facebook and Zuckerberg, which received great criticism in recent years for their involvement in the elections of countries such as the USA, now seem to have completely escaped from this process. Continuing to grow both as a company and individually, Zuckerberg may reach higher revenues if the popularity of Reels, which comes as a rival to TikTok, increases.
Mark Zuckerberg, founder and CEO of Facebook, said he would sell 99 percent of his shares in the past years. Currently only 36 years old, Zuckerberg has also become the youngest person to exceed the $ 100 billion threshold.