Facebook CEO, Mark Zuckerberg has now inched closer to becoming the richest persons in the world as two days right after integrating TikTok-like ideas – Reels this week he gained a whopping $5.3biilion extra despite the pandemic.
Facebooks stock rose by an estimated 12% on Thursday and Friday alone, this makes Zuckerberg, 36 who owns 15% of the company worth $98.6 billion.
Reels couldn’t have launched at a better time, as the famed and most downloaded app for two and a half years in a row – TikTok owned by ByteDance, a Chinese company, has been facing a heated backlash from the United States mostly premised on the bad relationship between China and the United States in recent times.
Trump made the announcement on the 31st of July that the chinese app would be banned because it poses a threat to national security, and on Thursday issued an executive order to prevent Americans from doing any business with ByteDance starting September 20.
Microsoft who earlier disclosed intentions to buy TikTok’s service in the U.S has now shared intentions to buy out the Canada, Australia and New Zealand services as well, although rumour has it Microsoft plans to buy out the entire global business in the long run, news that saw the Microsoft shares rise by 3.6%.
[…] It doesn’t end there, Facebook founder, Zuckerberg took the opportunity to launch a similar-featured app, Reels, right in the midst of the controversy. A move that jostled him to become the youngest centi-billionaire globally. […]
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