Bloomberg Billionaires Index ranks Mark Zuckerberg as the third richest person in the world amid the coronavirus pandemic

Amid the unprecedented situation of the entire world caused by the coronavirus pandemic, a piece of surprising news that has recently surfaced is that Mark Zuckerberg has become the 3rd richest person in the world. The first and second ranking people are the Amazon CEO Jeff Bezos and Microsoft’s Bill Gates, respectively.

The CEO of Facebook has managed to reach this rank when there was an addition of more than $30 billion to his net worth through March and April 2020 alone, as updated by the Bloomberg Billionaires Index ranking.

Zuckerberg’s total net worth is now estimated to be somewhere around $89 billion, which is more than the net worth of billionaires like the fashion giant Bernard Arnault and the CEO of Berkshire Hathaway, Warren Buffett.

When the lockdown was first implemented in California in the mid of March 2020, Mark Zuckerberg was ranked fifth in the list of the richest people of the world. His net worth at that time was around $57.5 billion. California is still under lockdown, but it turned lucky for Zuckerberg as his wealth increased even in extremely difficult times.

One reason for the surge in his income and rank could be because Facebook saw a great surge in popularity and usage during the pandemic.

In a time when the entire world economy crashed and around 40 million workers in the US alone had to be laid off, Facebook saw some amazing growth, thanks to the global lockdown and social distancing measures.

People bound at home turned towards different tech apps to carry on their work and studies, as well as for information and entertainment. Facebook is one of the most prominent and widely used social media platforms, so its growth and usage were not surprising. Still, Facebook has reported having earned better than ever expected!

Facebook generated up to $17.74 billion through January till March 2020. It gained 1.73 billion daily active users during this time, and 3 billion monthly users across all of its apps that include WhatsApp, Instagram, and Messenger.

According to reports, Facebook’s stock saw a leap by 8%, and that added up to $44 billion in its net market value. Now, these are some whopping figures for sure, despite Facebook’s claim that it experienced a significant decrease in ad demands through the last three weeks of the 1st quarter.

The 1st quarter revenue generation for different tech apps has been good too, owing to the reason mentioned above. However, 2nd quarter results that encompass the earnings from April till June 2020 are expected to show a better and clearer picture of the impact of coronavirus pandemic on these businesses.

Coming back to Facebook, it not only earned big time, but it has also done a lot of noteworthy efforts for the community and its members too during these months of the pandemic.

The company has come up with various new features and tools like ‘Messenger Rooms,’ better and improved features for ‘Workplace’, and an e-commerce feature called ‘Shops’ for Instagram as well as Facebook users.

Photo: ALAIN JOCARD/ AFP/Getty Images

Read next: Facebook Combines VR And AR To Offer A New Mixed Reality Workspace Concept
Previous Post Next Post