Safe to say November was a relatively good month for Facebook CEO Mark Zuckerberg.
The social network’s stock shot up from $21.08 a share on the first day of trading to $28 a share this past Friday, reaching its highest price since July.
Zuckerberg, who owns about 504 million shares of Facebook stock (give or take), saw his net worth increase $3.48 billion as a result. Not bad for 30 days’ work.
Long story short, his critics can Zuck on that! Sorry.
During Facebook’s botched IPO, of course, the 28-year-old Zuckerberg’s shares were worth a lot more – around $19.1 billion at the price of $38 per.
In the following months, the stock plummeted to less than half that IPO price to $17.55 in late August, pushing Mark’s net worth down to $8.84 billion. Wah wah.
Since then, however, Facebook stock has chipped away at some of those losses, regaining some traction and posting its best month to date in November.
A strong earnings report in late October, which showed that Facebook was making progress in monetizing mobile traffic, was a major catalyst for the gains.
As of Friday, Zuckerberg’s net worth was $14.1 billion and climbing. On the downside, Priscilla Chan is going to expect some REALLY nice holiday gifts now.