Forbes- Facebook FB -0.82% CEO Mark Zuckerberg added $3.4 billion to his fortune in just over an hour on Wednesday in after-hours trading, as the market cheered the social media company’s impressive second-quarter results. The gains pushed Zuckerberg’s net worth to a new high of $56.7 billion, according to FORBES estimates. He is currently the world’s fifth-richest person, right behind Jeff Bezos, who has an estimated fortune of $64 billion. Facebook’s stock price soared 6.5% in after-hours trading to $131.40, as of 5:15 p. m. Eastern time Wednesday. The rise followed the company’s announcement that revenues and earnings had eclipsed analysts’ estimates, primarily thanks to gains in mobile ad revenue. Revenues in the second quarter rose about 59% to $6.44 billion, topping the $6.02 billion that analysts predicted. Profits increased to $2.1 billion, or 71 cents a share, exceeding analysts’ estimates of 57 cents a share
Most Helpful Girl
Honestly I can't even fathom that amount of money. It makes me feel sad, that there are so many people who are struggling out there and then there's the total opposite where we have so much wealth that someone can't even spend in a lifetime. Now I don't blame Zuckerberg. He does a lot of charity and seems somewhat down to earth. But there are plenty of people out there who are wealthy who are greedy. No amount of money is enough for some greedy people.
I think it's great he has been able to be successful. Plenty of people try to be successful and fail, so it's nice to see someone succeeding.0
Most Helpful Guy
It exemplifies how fucked up big cooperate capitalism is (particularly in America but also in general). People on this site love to defend capitalism by saying how rich people have all worked hard for their money. Well, this is the perfect example of how somebody earned billions of dollars in one single hour by doing absolutely nothing (he probably wasn't even the one sitting at the desk doing the actual trading).
Now, let's think about where all this money came from. It may surprise some people but this money didn't just fall out of the sky. It came from other people. Think about it: when left-wing politicians want to create a society that is a little more egalitarian, by moving some money from the rich to the poor (for example by having higher taxes for the rich), people in America go absolutely crazy. They act as though somebody suggested to eat babies alive.
Yet, here's this immensely rich guy who moved billions of dollars from normal middle class people's pockets into his own pocket by doing absolutely NO WORK whatsoever and people here go like "good for him, he's a cool guy". If you can't see how fucked up that is, there's probably something wrong with you (I don't mean YOU personally, I mean "you" as in people in general).0