Mark Zuckerberg became a richer man this week, but he doesn’t plan to keep most of his new wealth.
The Facebook CEO’s fortune grew by US$6 billion Thursday after the company saw record-high earnings in the fourth quarter of last year, according to Bloomberg.
The company’s shares jumped more than 15 per cent on the earnings news, and by mid-afternoon that day, Zuckerberg was more than US$6 billion richer, CNBC reports.
Before markets closed Friday, he was richer than brothers Charles and David Koch, climbing to number six on Bloomberg’s billionaires list with a net worth of US$47.5 billion.
Facebook brought in US$5.8 billion in the fourth quarter of 2015, according to its own reporting. Last year, the company saw an almost US$18 billion spike in revenue— marking a year-over-year increase of 44 per cent.
While it’s probably welcome news for the 31-year-old, he won’t keep most of his colossal fortune.
After his daughter was born in November, he and wife Priscilla Chan announced that they would be giving 99 per cent of their Facebook shares to charity.
But still, the billionaire recently returned to work from a two-month paternity leave — one where he made more than most people do while cuddling their newborns.
Watch the video above to learn more.