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Mark Zuckerberg is $3.2 billion wealthier as as Facebook soars

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Mark Zuckerberg and Facebook are taking the world by storm. This is making Zuckerberg wealthier than ever imagined, as he gained $3.2 Billion as Facebook soared on mobile revenue, reported Money News on Jan. 31, 2014. The 29-year-old chief executive officer of Facebook, Mark Zuckerberg, has gained $3.2 billion in assets, raising his fortune to $27.4 billion, according to the Bloomberg Billionaires Index. In 2013 he added $12.4 billion to his net worth.

Facebook rose 14.1 percent to $61.08 in New York, following quarterly results in which revenue gained 63 percent to $2.59 billion, according to a company statement. Analysts had been predicting on average sales of $2.35 billion. Last year Zuckerberg focused on adding more ways for advertisers to reach consumers as users spend more of their time on wireless devices. In the latest quarter mobile promotions accounted for $1.25 billion in revenue, representing 53 percent of ad sales, which was up from 49 percent in the prior period.

Facebook's adjusted income for the fourth quarter of 2013 was up by 98 percent from the prior year to about $1.46 billion, or $0.31 per share. Thomson Reuters had been calling for 0.27 in adjusted earnings per share based on $2.33 billion in revenue, reports 24/7 Wall Street. The firm ended the year with $11.45 billion in cash and equivalents. In December 2013 daily active Facebook users were up 22 percent to 757 million on average, while mobile daily active users were up 49 percent to 556 million on average. All indicators make it appear 2014 will probably be another good year for Facebook. In the meantime, the gap between the extremely wealthy and the extremely poor is growing more dangerously wide than at anytime in American history.

MandelNews.com

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