Mark Zuckerberg’s Fortune Surpasses $100 Billion
The five largest American tech companies -- Apple, Amazon.com Inc., Alphabet, Facebook, and Microsoft Corp. -- currently have market valuations equivalent to about 30% of U.S. gross domestic product, nearly double what they were at the end of 2018.
U.S. Senator Bernie Sanders, meanwhile, plans to introduce legislation to tax what he called “obscene wealth gains” during the coronavirus crisis. The “Make Billionaires Pay Act” would tax 60% of the increase in the ultra-wealthy’s net worth from March 18 through the end of the year and use the revenue to cover out-of-pocket health-care expenses of all Americans.
Zuckerberg, who founded the social media giant from his Harvard University dorm room in 2004, has said he plans to give away 99% of his Facebook shares over his lifetime.
Even overseas, tech giants are among the top gainers this year. Tencent Holdings Ltd. CEO Pony Ma has added $17 billion, taking his fortune to more than $55 billion, while the wealth of Pinduoduo Inc.’s Colin Huang has gained $13 billion to $32 billion. India’s Mukesh Ambani has become $22 billion richer as the digital unit of his Reliance Industries Ltd. got investments from firms including Facebook and Silver Lake. He’s now worth $80.3 billion.
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