News Business Facebook's Mark Zuckerberg now wealthier than Google co-founders

Facebook's Mark Zuckerberg now wealthier than Google co-founders

New Delhi: After a momentary dip in Q1 2014, Facebook reported a stellar quarter in the second quarter which has made it more valued than Coca Cola or AT&T. This is also the most successful




In the wake of an impressive Q2, Facebook's shares hit an all-time high of $US75. Considering Mark Zuckerberg owns 422,954,082 shares, that put his worth at somewhere between $US30bn and $31bn.

Last year, Facebook generated net profit of just under $1.5 billion, meaning its current valuation is equal to about 128 times the profit it generated last year.

As a result of its impressive run, a lot of brokerages have raised their price targets on the stock, by as much as $15 to a high of $100. At $100, Facebook would be valued at more than $250 billion.

Facebook's initial public offering in May 2012 was widely considered to be a flop. The stock, priced at $38, fell for months after the debut as investors worried about the company's ability to make money from mobile advertising.
 
 

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