Facebook's CEO, Mark Zuckerberg joins centibillionaire club

Facebook's CEO, Mark Zuckerberg joins centibillionaire club.

The founder and CEO of Facebook Inc, Mark Zuckerberg has crossed over to $100bn which is equals to £76bn after facebook's instagram bid to launch a video sharing platform that will replace TikTok in the US is revealed. 

Zuckerberg fortune has made him a member of the exclusive centibillionnaire club, making him in the same category as the world richest man and founder of Amazon, Jeff Bezos and the founder of Microsoft Inc,Bill Gates.

Facebook Inc announced the US roll-out of instagram reels, which can replace TikTok's video sharing platform in the US.Mark Zuckerberg owns a stake in facebook and his networth passed $100bn as shares in the social network surged by 6% on investor optimism over the prospects of TikTok.

According to Bloomberg Billionaire Index ,The 36 year old joins the Amazon Founder,and Microsoft's founder, Bill Gates. Zuckerberg's fortune doubled to it recent milestone after the lockdown because of the covid-19 pandemic, Since the lockdown the usage of online platform and technology companies like Amazon, Apple, Facebook and Google have surged, giving them high percentage of profit which they had never gotten to before the pandemic. 

Zuckerberg's networth has risen about $22bn this year, while Bezos networth to more than $75bn, the world's leading smartphone company, Apple could hit a valuation of $2tn which would be the first time a US company has gotten to that value. 

Following these major increase in the wealth of theses companies and CEOs,the US Senator Bernie Sanders wants to introduce legistlation to tax what he he described as "obscene wealth gains" during covid-19 crisis despite the US economy shrinking at it fastest pace on the record. 

The Act has been introduced which is called the "Make Billionaire's Pay Act".This act would impose 60% tax on wealth gains made by super rich people from 18th March through to the end of the year.