Mark Zuckerberg becomes world’s third ‘Centibillionaire’

Facebook founder Mark Zuckerberg has seen his personal wealth rise to $100bn (approximately £78bn) after the launch of a new short-form video feature, which plans to rival Chinese social media platform, TikTok.

Earlier this week, Facebook announced the US rollout of Instagram Reels, which aims to drive traffic away from TikTik, which has been dragged into the ongoing US-China arguments which have dominated global business over the last few months.

Facebook shares rose by more than 6% on yesterday following the announcement, which led to a Zuckerberg hitting the ‘centibillionaire’ status, which is only shared by Amazon founder Jeff Bezos and Microsoft founder, Bill Gates.

Zuckerberg currently holds a 13% stake in Facebook, causing a total $22bn gain since the coronavirus outbreak.