Mark Zuckerberg has joined the world’s most exclusive club of the ultra rich.
The Facebook CEO on Thursday became a centibillionaire: someone who is worth at least $100 billion. He crossed the milestone after shares in the social network surged. Only two other men, Amazon’s Jeff Bezos and Microsoft’s Bill Gates, have bigger personal fortunes.
Zuckerberg co-founded Facebook from his Harvard dorm room in 2004, and his biggest asset is still his 13% stake in the company, according to the Bloomberg Billionaires index, which tracks the world’s wealthiest people.
The 36-year-old is also Facebook’s chairman and controlling shareholder.
Zuckerberg’s wealth got its latest bump as Facebook’s stock climbed 6.5% Thursday, a day after the company launched its TikTok clone, Reels, on Instagram. The release of the short video feature came just as US President Donald Trump threatened to ban TikTok, the Chinese-owned app that has exploded in popularity over the last year.
Trump made good on that threat Thursday, issuing an executive order that would block TikTok from operating in the United States if its Chinese owner, ByteDance, doesn’t sell the business to a US firm within 45 days.
The company also noted that it had benefited as more people around the world stayed home because of the pandemic, pushing up its engagement numbers over the quarter that ended in June.
Facebook shares are up almost 30% so far this year, adding $22 billion to Zuckerberg’s wealth.