Facebook co-founder Mark Zuckerbeg turns 31 next May. Thanks to this week’s report on his company’s remarkable Q2 earnings, we can now deduce the following:
Mark Zuckerberg has more billions under his belt than years he has lived.
Contrary to persistent rumours that the social media behemoth was on its last legs, Facebook’s Q2 report proves the contrary – in the last 12 months the platform’s income has grown from $US562 to $US1.4 billion ($1.49 billion), while total revenue shot up 61 per cent to more than $US3 billion (for the quarter).
In the wake of the findings, Facebook’s shares hit an all-time high of $US75. Considering Mark Zuckerberg owns 422,954,082 shares, that put his worth at somwhere between $US30bn and $31bn.
While it’s an admittedly tiny club, Zuckerberg isn’t the only businessman to boast of a billion dollar bank account that exceeds his years.
Billions beyond their years
According to Forbes, Mexican business magnate Carlos Slim touched over it once in 2011 when he was valued at $US74bn at the age of 71. He matched it in 2013 with $73bn at 73, and despite the fact that as you get older, the bar gets a little harder to leap over, Slim is actually bucking the trend. At 74, he’s in a red-letter year and is worth $80bn.
Bill Gates first topped the Forbes rich list in 1995 with $US12.9bn. It took him until he was 43 to pass the billions-to-years mark in 1998 ($51bn), after which he made a staggering jump to $90bn at 44 years of age.
In 2003-2005 he slipped under the mark, but has steadily stretched the gap again since. He’s been pretty much its sole member for 12 of the past 15 years.
When it comes to more billions than years, no one else comes close to Slim, Gates and Zuckerberg, nor have they since Forbes started listing the world’s wealthiest.
Of course, before that, it was a different story. In the times of tyrants, frontier wealth and absolute royalty, the billions-to-years club was a little more open. You can see them all here in this wonderful list of The 25 Richest People Who Ever Lived compiled earlier this year by celebritynetworth.com.
Back to the future
Just two years ago Mark Zuckerberg rang the bell to announce Facebook’s debut on the stock market.
It opened at $US38 before dipping in the following months to as little as $18. Three months later, Zuckerberg’s personal worth had more than halved to $US9bn based on the 500-odd million shares he held in Facebook. He was 28 years old at the time.
But Zuckerberg has proved himself anything but an idle CEO, and the results of what some have called outrageous spending are paying off in a big way.
He bought Instagram for $US1bn just before Facebook’s IPO. Crazy, some said.
He laid out a staggering $US16bn for messaging app WhatsApp. “Insane.”
His most recent big buy – $US2bn for VR headset company Oculus Rift – has been widley labelled an extravagant boy’s toy purchase.
He doesn’t own a music streaming site yet, although he does have a pretty solid partnership with Spotify which could easily turn into an acquisition and he hasn’t yet made any noise about a move into video streaming, so there’s still huge growth potential.
And still Facebook’s active user base grows: monthly active users for Q2 stood at 1.32 billion, while the mobile audience up 31 per cent. to 1.07 billion. In fact couched in the Q2 report are some staggering Facebook statistics:
- 63 per cent of its 1.32 billion monthly users visit the site daily.
- 800 million people use Facebook every day.
- Of it’s 1.07 billion monthly mobile users, 650 million of them access Facebook on their phone every day.
- The site accounts for every one in five minutes users spend on their mobile.
This is a revised version of a story that originally appeared on Business Insider.