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Zuck gains 3.8 billion in one day

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Mark Zuckerberg's personal wealth soars a staggering $3.8 billion in a SINGLE DAY thanks to 20 percent jump in Facebook's value.



Facebook CEO Mark Zuckerberg’s personal fortune soared a staggering $3.8 billion between the company’s announcement of much better than expected second quarter earnings on Wednesday and the close of trading on Thursday.

Shares in the world’s most-popular social-networking service soared 30% to their highest level since May 2012, earning the company’s founder and CEO the equivalent of $15.83 million per hour.

When Facebook floated on the Nasdaq in May last year it was one of the largest initial public offerings in history, netting co-creator Zuckerberg more than a billion dollars. But its share price fell dramatically months later and it saw $49 billion wiped from its value.

Surging demand for mobile advertising helped company revenues increase 53 percent to $1.81 billion for the latest quarter. The earnings may quell concerns, voiced by analysts and investors since the IPO, that the rising popularity of smartphones and tablets is outpacing its ability to make money selling promotions to mobile users. No word yet on if the famously frugal Zuckerberg has celebrated his latest windfall.

The billionaire is known for his life of the simple life, shunning material possessions to live a relatively simple existence and nearly always wearing his trademark hoodies.

Instead, he and wife Priscilla have committed the majority of their wealth to charity. This weeks windfall has pushed the 29-year-old far up the Bloomberg Billionaires Index ahead of Microsoft CEO Steve Ballmer and Dell chairman Michael Dell. Zuckerberg ranked at No. 42 with a net worth of $16.8 billion. He was number 75 before the latest Facebook earnings were released and so far this year his net worth has swelled by 37%.

Microsoft co-founder Bill Gates, 57, remains the richest person in the world with a net worth of $72.2 billion, followed by Mexico’s Carlos Slim, 73, and then Warren Buffett, 82.

On Wednesday Facebook saw its second quarter revenue soar to $1.813 billion - a 53 percent increase on the same period last year.

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