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Billionaire Watch

Mark Zuckerberg, youngest person ever to be worth over $100 billion

Zuckerberg’s current valuation stands at $104 billion, as he is presently the fifth richest individual on earth.

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Mark Zuckerberg, a 36-year-old, self-made billionaire is presently the youngest individual on planet earth to ever be worth at least $100 billion. The leading millennial is the co-founder and chief executive of Facebook, the world’s biggest social media company.

At press time, his current valuation stands at $104 billion, as he is presently the fifth richest individual on earth.

READ: World richest man, Jeff Bezos holds 5% of his wealth in cash

The $780 billion valued social media juggernaut, owners of Instagram, WhatsApp business has over 2.5 billion monthly users. It’s initial public offering about a decade ago was the largest-ever technology IPO at the time.

READ: Facebook founder, Mark Zuckerberg, worth $104 billion keeps $2.3 billion in cash

Zuckerberg’s present wealth valuation can buy 60.2 million troy ounces of gold or about 1.52 billion barrels of crude oil. He currently has about $2.93 billion in cash and the majority of Zuckerberg’s fortune is derived from a 13% stake in Facebook. The 36-year-old billionaire had some day ago revealed plans in giving away about 99% of his Facebook shares over his lifetime, according to a December 2015 SEC filing.

In addition, the centi-billionaire is known for modesty amid his high wealth valuation on the account that he drives an affordable car and wears basic clothes but appears to have a high taste for premium real estate properties.

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Zuckerberg and his wife Priscilla Chan have over the years invested billions of dollars into childhood education and medical research.

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READ: Billionaires worth over $100 billion made $270 billion in 2020

Meanwhile, the American-based billionaire announced about a day ago that Facebook plans to support people get vaccinated against the COVID-19 virus. He said:

“We’re launching a global campaign to help bring 50 million people a step closer to getting Covid-19 vaccines.

“First, we’re launching a tool that shows you when and where you can get vaccinated and gives you a link to make an appointment. This will be in the Covid Information Center, which we’ll show people right in their News Feed. We’ve already seen people use Facebook to find vaccination appointments, so this should enable millions of more people to do the same.

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READ: Facebook’s employees protest over Mark Zuckerberg’s stance on President Trump’s post

“Second, we’re bringing the Covid Information Center to Instagram, and we’ll show it to people prominently there too.

“Third, we’re working with health authorities and governments to expand their WhatsApp chatbots to help people register for vaccines. More than 3 billion messages related to Covid have already been sent by governments, non-profits, and international organizations to citizens through official WhatsApp chatbots, so this update will help with the vaccination effort as well.”

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Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Message Olumide on Twitter @tokunboadesina. He is a Member of the Chartered Financial Analyst Society.

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Billionaire Watch

TikTok’s parent company, Bytedance now more valuable than Coca Cola and Exxon Mobil

A company founded 9 years ago is currently more valuable than a transgenerational business like Coca Cola and Exxon Mobil.

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TikTok announces $250 million pledge to aid combat coronavirus, Tiktok set to reduce misinformation on its platform
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TikTok’s parent company, ByteDance which was founded in 2012 is now more valuable than the world’s biggest soda brand Coca Cola and energy giants, Exxon Mobil.

ByteDance was founded by Zhang Yiming in 2012 and he went on to launch TikTok, a video sharing application in 2016. Tiktok immediately became a hit on the internet. In less than two years of its launch, it became the most downloaded app in the world according to Forbes.

With over 500m active monthly users, TikTok quickly gained the attention of big venture capitalist firms who invested more in it.

READ: Exxon begins talks with domestic firms to divest businesses in Nigeria

Shocking comparisons 

ByteDance was founded in 2012 and is currently more valuable than a company founded in 1892 (Coca Cola) and (1999) Exxon Mobil.

ByteDance, according to its company profile has over 60,000 employees while Coca Cola and its 300 bottling partners employ over 700,000 people. Exxon Mobil has an estimated 72,000 employees.

Difference in valuation

According to Bloomberg, ByteDance is currently trading at a valuation of more than $250 billion in the secondary market. The number is set to go up with some investors pegging the valuation at $350 billion.

ByteDance with a current valuation of $250bn is more valuable than Coca Cola which was recently valued at $235.33bn. ByteDance also beats Exxon Mobil which is currently valued at $237.08bn.

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READ: Exxon Mobil to cut 14,000 jobs as pandemic hit oil demand, prices

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What you should know 

  • The above story paints a clear picture of the power of the internet age. A company founded 9 years ago is currently more valuable than a transgenerational business like Coca Cola and Exxon Mobil.
  • According to Investopedia a valuation is the analytical process of determining the current (or projected) worth of an asset or a company.  An analyst placing a value on a company looks at the business’ management, the composition of its capital structure, the prospect of future earnings, and the market value of its assets.

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Billionaire Watch

Squarespace founder is the latest billionaire, set to make $3bn from listing his company

The latest valuation of Squarespace sets Casalena up for a fresh $3billion, making him the latest billionaire in the market.

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What is Squarespace?

Squarespace is a platform that helps small businesses and individuals build customized websites and online stores for e-commerce. It is also a hosting company which is based in New York City, United States. It provides software as a service for website building and hosting, and allows users to use pre-built website templates and drag-and-drop elements to create and modify webpages.

Who founded Squarespace?

Squarespace was founded by 38-year-old Anthony Casalena seventeen years ago. The platform was founded in his dorm room at the University of Maryland. For many years, he was the only one running the platform. He launched the platform with a $30,000 seed fund and grants from his university and the platform reached a $1m valuation in 2006.

READ: Mark Zuckerberg, youngest person ever to be worth over $100 billion

Squarespace latest valuation and growth

Last month, Squarespace raised a whopping $300m from investors who valued the company at $10bn. The successful outing prompted the decision by the Founder to go public.

The company has grown tremendously since its inception in 2003. The number of subscribers increased nearly 23% in 2020, to 3.7 million users. The company also made a revenue of $620 million which was a 28% increase from the previous year according to Forbes.

Squarespace employees have grown from just the Founder to 1200 employees across the United States and Ireland.

READ: Clubhouse adds payment feature to enable creators to get paid on the app

Anthony Casalena’s new net worth

Following the latest valuation of his company at $10bn, Anthony Casalena is set to become a billionaire. According to Forbes Squarespace’s SEC filings revealed that he has a 33% stake in the company.

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The latest valuation of his company sets him up for a fresh $3bn making him the latest billionaire in the market.

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What you should know

Squarespace is listing its company in the market using direct listing. A direct listing is a process by which a company can go public by selling existing shares instead of offering new ones.

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