Zuckerberg's fortune grows by $15 billion as Facebook shares soar

New York: A sharp rise in share price of social networking giant Facebook has helped the personal wealth of its 29-year-old CEO and co-founder Mark Zuckerberg soar by a massive $15 billion in less than
zuckerberg s fortune grows by 15 billion as...
PTI 02 Mar 2014, 04:28 PM IST
New York: A sharp rise in share price of social networking giant Facebook has helped the personal wealth of its 29-year-old CEO and co-founder Mark Zuckerberg soar by a massive $15 billion in less than two years.

Zuckerberg ‘s fortune has soared to about $33 billion, from $18 billion on May 18, 2012 when the company went public. This has come on the back of investors showing huge interest in Facebook shares amid the company beginning to make money from its mobile platform.

Within two years of entering the stock market, the share value of Facebook has soared over 80 per cent to $68.46 apiece on February 28, up from $38 per share on its debut on Nasdaq stock exchange.

According to a latest regulatory filing, Zuckerberg holds 478,914,465 shares of Facebook, which accounted for 19.6 per cent of all outstanding shares.

At the debut price of $38 each, his holding of nearly 479 million shares was worth about $18 billion.

However, at the company's latest traded price of $ 68.46 apiece, this holding is now worth about $33 billion — which marks a surge of about $15 billion.

Facebook made a dismal stock market debut in May 2012 as investors dumped the stock amid concerns over growth prospects of the social networking firm.

 
   
 

More from business