While most of the world is losing its business and financials are going kaput for every entrepreneur, for some, the fortune is still thriving and making their net worth soar. As per the latest reports doing rounds in the tech markets, Facebook CEO Mark Zuckerberg became the third- richest human with a net worth of 87.8 billion dollars amid the pandemic.
Mark Zuckerberg becomes the third richest billionaire
Since Mid-March this year, when the coronavirus pandemic struck the world, the social media founder added around 30 Billion dollars to his net worth. Pandemic has brought the major setbacks to the economy across the globe; however, the numbers were substantially optimistic for Facebook. The first-quarter earnings of the company added a whopping 44 Billion dollars to the company market value.
Zuckerberg on the third rank in Bloomberg Billionaires Index
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As per the Bloomberg Billionaire’s Index ranking reported on May 21, 2020, Mark Zuckerberg became the third richest billionaire in the world. His net worth is now around 87.8 Billion dollars.
Facebook’s impressive business in the first quarter of 2020
Even in the times when most of the companies are laying off employees and reporting losses, Facebook’s revenue has grown multifold. The first-quarter earnings of the company have been outstanding. The number of users using Facebook apps reached impressive numbers in recent months, with around 3 Billion users for various apps like WhatsApp, Instagram, Facebook messenger, etc.
Outstanding number of daily active users
The company also showcased outstanding performance in the number of 1.73 billion daily active users in the first quarter of 2020 and generating a revenue of 17.74 billion.
Still reduction in demands of ads
Facebook reported a “Significant Reduction” in demand for its advertising numbers due to the coronavirus pandemic impacting businesses. Tech companies have been majorly affected by the economic fallout, which may be more evident in the coming months.
Facebook offering newer eCommerce and video chat services
However, Facebook has expanded its offerings in various fronts like video chatting and eCommerce. Messenger Room also debuted recently, giving competition to Zoom and other video conferencing apps.