Mark Zuckerberg has had plenty of difficult days in the past year, but this past week was a good one for him. The Facebook CEO’s net worth jumped $5.5 billion in the week through Thursday April 25, mostly due to investor glee about the $2.4 billion in first quarter profit that the social media firm reported on Wednesday.
The 34-year-old is worth $71.3 billion, $20 billion more than at the beginning of 2019. He is now the 5th richest person in the world, up from No. 8 in March when Forbes published the annual world’s billionaires list. The positive quarterly earnings report overshadowed news that Facebook is setting aside as much as $5 billion to pay a fine to the Federal Trade Commission over privacy issues.
Zuckerberg’s gain was by far the biggest of the week, but he is in good company. The fortunes of Zuckerberg and four other tech billionaires, including Amazon’s Jeff Bezos, rose by a collective $13 billion in seven days.
A day after Facebook released its first-quarter earnings report, Amazon announced a quarterly profit of $3.6 billion, an all-time record for the e-commerce giant. Amazon’s share price rose 2.2% in the week through Thursday, causing Bezos’ net worth to surge by $3.2 billion. The 55-year-old CEO, who owns a 16% stake in Amazon, is now worth $157.8 billion.
Bezos announced earlier this month that he will transfer approximately 4% of the company’s stock to his wife, MacKenzie, as part of their divorce settlement, which is expected to be completed around early July. Jeff Bezos would still be the world’s richest person while MacKenzie will become the third-richest woman.
The net worth of Steve Ballmer, Microsoft’s former CEO, rose $1.7 billion in the week through Thursday as the software giant’s share price increased by 4.7%. Microsoft smashed earnings estimates with a quarterly revenue of $30.6 billion, boosted by its commercial cloud business, which has grown 41% year-over-year. Ballmer, Microsoft’s largest individual shareholder, is now worth $48.3 billion. Cofounder and former CEO Bill Gates only owns just over 1% of shares, having sold or given away most of his stake in Microsoft, but the stock uptick did bump his net worth by $600 million.
Michael Dell, chairman and CEO of Dell Technologies, is now worth $40 billion after gaining $1.4 billion in a week due to a 6.6% stock uptick. Last December, the computer maker returned to the public market six years after Dell took the company private. Dell Technologies’ market capitalization was $46.7 billion as of end of day Thursday, up from its $34 billion listing. Dell’s net worth has nearly doubled over the past 12 months.
Larry Page, the cofounder of Google and CEO of its parent company Alphabet, got $1.1 billion richer, with an estimated fortune of $57.6 billion. Shares of Alphabet, which will report its first-quarter earnings after the closing bell on Monday, have increased 2.2% since last Thursday. It has been a busy week for Alphabet’s “Other Bets.” Wing, which became an independent Alphabet business last summer, recently got approval from the Federal Aviation Administration to deliver goods by drone. Wing plans to start drone deliveries in Blacksburg, Virginia, later this year. Loon, which uses high-altitude balloons to provide internet access to remote areas, raised $125 million from a SoftBank subsidiary on Thursday.