Mark Zuckerberg (36), has become the third centibillionaire in the World.
The Facebook founder’s fortune has topped $100bn for the first time, setting him among members of the world’s centibillionaires’ club.
The rise in Zuckerberg’s fortune is linked to Facebook’s shares surge by 6% via investor optimism over the news the company plans to launch Instagram Reels, a rival to the Chinese video-sharing application TikTok.
The social media platform disclosed the United States (U.S) rollout of Instagram Reels.
The disclosure came at the heels of US President, Donald Trump’s banning US companies from dealing with ByteDance and Tencent, the Chinese owners of TikTok and the WeChat messaging service.
Zuckerberg is now in the league of Jeff Bezos, the Amazon founder, and Bill Gates, Microsoft’s founder, as the only people who have centibillionaire status.
Zuckerberg owns a 13% stake in the company and gained about US$22 billion this year.
Facebook was founded by Zuckerberg in 2004.
FACEBOOK ENTENDS HOMEWORK TO JULY 2021
Facebook is extending its work from home policy until July 2021 in response to the ongoing Coronavirus pandemic.
The report says: “Based on guidance from health and government experts, as well as decisions drawn from our internal discussions about these matters, we are allowing employees to continue voluntarily working from home until July 2021”.
Nneka Norville, a Facebook spokesperson said the company will also provide employees with an additional $1,000 bonus for their home office needs.
The company had provided employees with a similar bonus in March when they first started working remotely because of the coronavirus pandemic.
Google also recently extended its work from home policy until July 2021, while Twitter told employees in May that they can work from home “forever” if they wish.
The announcement follows previous indications from Facebook CEO Mark Zuckerberg that 50% of the company’s employees could be working remotely within the next five to 10 years.
