Mark Zuckerberg’s net worth passed US$100-billion for the first time on Thursday after Facebook hit a record on optimism about the release of its TikTok competitor Reels.
The 36-year-old joins fellow tech titans Jeff Bezos and Bill Gates as the only people in the world who currently have centibillionaire status, according to the Bloomberg Billionaires Index. Zuckerberg’s net worth is largely derived from his 13% stake in Facebook.
The founders of America’s largest technology companies have enjoyed a mind-boggling accumulation of wealth this year as the coronavirus pandemic drives more people online, despite the US economy contracting at its fastest pace on record. Zuckerberg has gained about $22-billion this year. Bezos is up more than $75-billion.
The staggering numbers have put Big Tech under increased scrutiny, with Zuckerberg, Bezos, Apple CEO Tim Cook and Alphabet head Sundar Pichai testifying before the US Congress last month to defend allegations that their power and influence are out of control.