Facebook founder sees wealth hit US $100bn after TikTok rival launch

World-News

Facebook founder sees wealth hit US $100bn after TikTok rival launch

By Naveel Krishant

08/08/2020

Facebook founder Mark Zuckerberg

Facebook founder Mark Zuckerberg has seen his personal wealth rise to US $100 billion after the launch of a new short-form video feature.

Facebook announced the US rollout of Instagram Reels, its rival to controversial Chinese app TikTok.

Facebook shares rose by more than 6% on Thursday. Zuckerberg holds a 13% stake in the company.

He joins Amazon founder Jeff Bezos and Microsoft’s Bill Gates in the exclusive so-called 'Centibillionaire Club'.

Technology bosses have been in the spotlight recently as the size and power of their companies and their personal fortunes continue to grow.

[Source: BBC]

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