Mark Zuckerberg’s fortune has topped $100bn for the first time, placing him among members of the world’s centibillionaires' club. This comes after Facebook’s shares surged by 6% on the news that the company plans to launch Instagram Reels, a rival to the Chinese video-sharing application TikTok.
Earlier this week, US President Donald Trump banned US companies from dealing with ByteDance and Tencent - the Chinese owners of TikTok and the WeChat messaging service.
The 36-year old media magnate has joined Jeff Bezos, the Amazon founder, and Bill Gates, Microsoft’s founder, as the only people who have centibillionaire status, the Bloomberg Billionaires Index said.
Zuckerberg, who founded Facebook while a student at Harvard in 2004, owns a 13% stake in the company. Earlier, he said that he was going to give away 99% of his Facebook shares over his lifetime to charity.
