Despite lockdowns and economic shutdowns caused by the new Novel Coronavirus pandemic around the world, Facebook founder Mark Zuckerberg has amassed more than $30 billion (over 48 trillion Pakistani rupees) in just two months.
According to the Bloomberg Index, Mark Zuckerberg has become the third richest man in the world after this increase and he is now the owner of $87.8 billion only now Amazon CEO Jeff Bezos and Microsoft owner Bill Gates are ahead of him.
Mark Zuckerberg’s assets were valued at 57 57.5 billion when the lockdown took place in Silicon Valley, California, on March 17.
Lockdown to control the coronavirus in California are still in place and millions of people around the world have lost their jobs, but the wealth of Facebook’s founder continues to grow.
The possible reason for the increase in Mark Zuckerberg’s assets is the increase in the company’s economic growth.
The results for the first quarter of this year were released on April 29 and they were better than expected.
Facebook did better than economists expected in terms of revenue and daily active users.
During the quarter, Facebook generated revenue of 17.74 billion and gained 1.74 billion users, while monthly users of all its apps reached 3 billion for the first time.
Following these results, the value of Facebook shares increased by 8%.
But Facebook said a significant drop in advertising demand was seen in the last three weeks of the first quarter of 2020 and could have repercussions in the second quarter.
Over the past two months, Facebook has made a number of additions to its apps, including e-commerce and unlimited members for video chatting feature. It recently introduced the Messenger Rooms feature, which allows up to 50 people to chat at the same time.
Similarly, an e-commerce feature called Facebook Shops was launched this week that will allow small businesses to work online.