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Zuckerberg’s net worth jumps to $29.7 bn on strong Q4 earnings

Mark Zuckerberg

As the social networking giant Facebook’s shares have surged on strong fourth quarter performance, its founder and CEO Mark Zuckerberg’s net worth has jumped by USD 3.1 billion to USD 29.7 billion

Mark ZuckerbergNew York: As the social networking giant Facebook’s shares have surged on strong fourth quarter performance, its founder and CEO Mark Zuckerberg’s net worth has jumped by USD 3.1 billion to USD 29.7 billion.

According to Wealth-X, a global wealth intelligence and prospecting company, Zuckerberg’s net worth increased substantially after the company announced its 2013 fourth quarter earnings after market close on Wednesday.

“Zuckerberg’s net worth is calculated after accounting for shares in public and private companies, residential and passion investments such as art, planes and real estate, and is based on the most recent publicly available disclosure of his shares and options in the Menlo Park social network firm,” a Wealth-X release said.

It added that the “29 years old Zuckerberg’s current fortune equates to more than USD 1 billion for every year he has lived”. The company’s shares surged 12 per cent to USD 59.98 in the after-hours trading on strong 2013 mobile ad revenues.

Mobile ad sales rose to 53 per cent of revenues from 49 per cent in the previous quarter. According to the latest quarterly report, the company’s profits stood at USD 523 million, up USD 64 million from the year ago period.

Revenue grew 63 per cent to USD 2.59 billion. At present, the social networking site has 1.23 billion monthly active users and 757 million daily active users.

PTI 

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