On Thursday, the Facebook (FB) CEO became a centibillionaire: someone who is worth at least $100 billion. He crossed the milestone after shares in the social network surged. Only two other men, Amazon (AMZN)’s Jeff Bezos and Microsoft (MSFT)’s Bill Gates, have bigger personal fortunes.
The CEO’s wealth got its latest bump as Facebook’s stock climbed 6.5% Thursday, a day after the company launched its TikTok clone, Reels, on #Instagram. The release of the short video feature came just as US President Donald Trump threatened to ban TikTok, the Chinese-owned app that has exploded in popularity over the last year.
The introduction of Reels also came a week after Facebook reported strong earnings. Last Thursday, the company said it had reached a new record of 3 billion users across its platforms, including WhatsApp and Instagram.
The company also noted that it had benefited as more people around the world stayed home because of the pandemic, pushing up its engagement numbers over the quarter that ended in June.
Facebook shares are up almost 30% so far this year, adding $22 billion to Zuckerberg’s wealth.