Mark Zuckerberg joins centibillionaire club after launch of TikTok rival

Mark Zuckerberg’s net worth passed $100 billion for the first time Thursday after Facebook Inc. hit a record high on optimism about the release of its TikTok competitor Reels.

The 36-year-old joins fellow tech titans Jeff Bezos and Bill Gates as the only people in the world who currently have centibillionaire status, according to the Bloomberg Billionaires Index. Zuckerberg’s fortune is largely derived from his 13 per cent stake in Facebook.

The founders of US’ biggest technology firms have enjoyed a large accumulation of wealth this year as the Covid pandemic drives more people online, despite the economy contracting at its fastest