WHAT’S BEING CLAIMED:
- Facebook CEO Mark Zuckerberg is the latest to join the exclusive “centibillionaire” club of people with a net worth of $100 billion.
- The only two people with more money than him are Amazon founder Jeff Bezos and Microsoft co-founder Bill Gates.
- In 2015, Zuckerberg pledged to give away 99 percent of his Facebook shares during his lifetime.
Facebook CEO Mark Zuckerberg officially joined the “centibillionaire” club — a group of people with a net worth of at least $100 billion, according to CNN. He joins Amazon founder Jeff Bezos and Microsoft co-founder Bill Gates as the only people with centibillionaire status, according to Bloomberg‘s Billionaires Index.
The 36-year-old social media mogul increased his fortune last week after Facebook’s shares surged after welcoming Reels to Instagram. Reels is an app that lets you create fun videos to share with your friends or anyone on Instagram, similar to the controversial app TikTok.
Facebook’s stock climbed more than six percent last week, increasing Zuckerberg’s wealth, as he owns 13 percent of the social media platform, BBC reported.
In 2004, Zuckerberg founded Facebook from his Harvard dorm room.
In 2015, Zuckerberg pledged to give away 99 percent of his Facebook shares during his lifetime. Facebook owns Instagram and WhatsApp platforms, among other sites
The Facebook CEO announced in June that his platform would pledge $10 million toward “ending racial injustice.”
Facebook announced the donation using the hashtag #ShareBlackStories, which encouraged platform users to “raise voices” that make a “lasting impact.”
“We hear you, we see you and we are with you,” Instagram wrote in a message on its own official account. “We stand against racism. We stand with our Black community — and all those working toward justice in honor of George Floyd, Breonna Taylor, Ahmaud Arbery and far too many others whose names will not be forgotten.”
In a statement issued by Zuckerberg, he also explains that his company is consulting civil rights advisors and their employees to “identify organizations locally and nationally that could most effectively use” their funding right now.
The CEO added that Facebook “needs to do more to support equality and safety for the Black community through our platforms.”
“The pain of the last week reminds us how far our country has to go to give every person the freedom to live with dignity and peace,” he wrote in a Facebook post. “It reminds us yet again that the violence Black people in America live with today is part of a long history of racism and injustice. We all have the responsibility to create change.”