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Mark Zuckerberg Is $3 Billion Richer After Testifying For Congress

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Mark Zuckerberg Is $3 Billion Richer After Testifying For Congress

Mark Zuckerberg has had a tricky few days facing a barrage of questions from US senators about digital privacy following the Cambridge Analytica scandal.

The Facebook boss found himself testifying in front of Congress members about what his company is doing to relieve worries from users.

And just as everything was starting to look really gloomy, reports emerge that Zuckerberg has made $3 billion (£2.1bn) in the past two days. Yes, we said billion.

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Sit us in front of a bunch of puzzled senators and we'll reel off as much info as we can for that coin. Just give us five to swot up on our data policies and we're ready.

Since the Cambridge Analytica scandal broke, Facebook has been under intense scrutiny and pieces of information about data policies continue to spring up nearly every day, reports COMPLEX.

Despite the fact that Zuckerberg was out there mostly answering softball questions, and explaining how the internet works, investors thought his appearance showed reason to have more confidence in the company.

Yesterday Facebook shares dipped, but are still up three percent overall since Zuckerberg began his testimony on Capitol Hill.

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Credit: PA
Credit: PA

In total, Facebook's stock has gained 4.5 percent since the start of the hearings, CNN Money reports.

The Facebook finder and CEO owns more than 401.4 million shares in his company, and following the rise in stock prices, his stake is now worth $66bn (£46.2bn). That can't be bad, surely.

Forbes, which tracks real-time data to create the ranking of the world's billionaires, lists him as the seventh richest person in the world.

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And it's good news for anyone who owns shares in Facebook, they should be happy as they will be slightly richer also.

The company's total market value has increased by a whopping $23bn (£16.1bn) since Tuesday morning. Not bad for those who have done absolutely nothing is it?

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But here's the bad news, Facebook is still considered the 'worst performer among big tech stocks', according to CNN Money.

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Its stock is down about seven percent this year and, ironically, shares hit an all-time high just before the Cambridge Analytica scandal hit, but they've been down 16 percent ever since.

Bringing it back to humour, as per, yesterday it was reported that while defending his company's practices, people were too busy wondering whether Zuckerberg was a robot.

It's clearly not been his finest moment but we're sure he won't be complaining in the long run.

Featured Image Credit: PA

Topics: World News, News, Money, Interesting, Social Media, Facebook, Technology, Mark Zuckerberg

Rebecca Shepherd
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