Facebook Inc (NASDAQ:FB)’s Mark Zuckerberg added $11 billion to his net worth this year, Pimm Fox said in a discussion on Bloomberg’s Taking Stock.
The revelation about the Facebook Inc (NASDAQ:FB) co-founder and current top executive was made by Fox as he and colleagues Cory Johnson and Trish Regan were talking about the billionaire winners and losers this year.
Though the net worth of the rich Facebook Inc (NASDAQ:FB) boss soared to about $35.7 billion according to the Bloomberg billionaires list, it was not enough to land him the title of the biggest billionaire winner of 2014 which belongs to Alibaba Group Holding Ltd (NYSE:BABA)’s Jack Ma who made about $25.1 billion as his company went public in September.
Meanwhile, Johnson noted how Zuckerberg has stuck to long-sighted deals which add value to his company. Zuckerberg, he said, is using his company’s money to acquire business that makes Facebook Inc (NASDAQ:FB) more competitive.
“[WhatsApp is] possibly the fastest-growing messaging platform and the biggest one in the world. It’s really eviscerating what’s happening with the phone networks. He also continues to […] use the company’s capital to make the acquisitions that will keep things competitive [and] things at bay,” he said.
Johnson gave as an example the billion the company spent acquiring Instagram which seemed silly at the time the deal was announced. However, Johnson said that as a separate company, Wall Street is valuing Instagram at about $35 billion.
The Bloomberg host said that while there is no penny pinching with Mark Zuckerberg, the capital the company spends appears to be going to good use.
John Lykouretzos’ Hoplite Capital Management owned about 1.4 million shares of Facebook Inc (NASDAQ:FB) by the end of September.