Zuckerberg is now worth more than $100 billion after Facebook stock rose by 6.5 per cent following release of TikTok rival Instagram Reels


Mark Zuckerberg has seen his personal wealth hit $100 billion (£76 billion), 16 years after he co-founded Facebook from his university dorm room.

He joins Amazon’s Jeff Bezos and Microsoft’s Bill Gates in the “Centibillionaire Club”.

The latest boost to Zuckerberg’s wealth came after Facebook launched a new short-form video feature on Wednesday.

Instagram Reels is a rival to Chinese app TikTok and it prompted Facebook shares to jump more than 6 per cent on Thursday, having risen by almost 30 per cent this year.

Mark owns 13 per cent of Facebook and the social media platform owns Instagram.

The 36-year-old’s personal wealth has gained about $22billion (£16.8 billion) this year, while Mr Bezos’s has grown by more than $75billion (£57 billion), according to Bloomberg.

The news comes after US President Donald Trump signed an executive order banning US transactions with ByteDance, the Chinese company that owns the video-sharing app TikTok.

The order, which will come into effect in 45 days, comes after his administration warned it was stepping up efforts to purge “untrusted” Chinese apps.

Tencent, which owns the WeChat app, is being targeted with similar measures.

Meanwhile, Facebook told employees on Thursday that they could work from home until July next year due to the coronavirus (COVID-19) pandemic.

They will also be given $1,000 (£764) for home office needs.

Twitter and Google have made similar promises to employees in recent weeks.


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