Mark Zuckerberg's Net Worth Skyrocketed as He Testified to Congress. Here's How Much He Earned
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Mark Zuckerberg's net worth increased by $3 billion Tuesday as the Facebook CEO appeared before Congress to field questions following the recent Cambridge Analytica leak that exposed 87 million users' data.
The highly-scrutinized testimony before the Senate Judiciary Committee, which marked the first time Zuckerberg appeared in person in front of Congress, did not deter investors. Facebook shares went up 4.5% to $165 from $157.93 the day before in the company's most significant one-day gain in about two years. Facebook gained $21 billion in value to close at $479.4 billion.
Facebook's gain reversed some of the company's losses over the last month. After reports of the Cambridge Analytica leak emerged in March, Facebook's stock tumbled, causing Zuckerberg to lose $10 billion in one week. On Tuesday, his net worth looked like it might bounce back.
According to an April 2017 SEC filing, Zuckerberg owned 462,279,324 Facebook shares and earned $3,286,805 with today's market close. His current net worth is about $64 billion, according to Bloomberg. That total is down from his February peak of $79.5 billion.
Zuckerberg has sold off some shares over the last year, offloading $108.6 million worth of stock in February, Recode reports. He has also sold roughly $1.6 billion of his shares to fund the Chan Zuckerberg Initiative, the philanthropic initiative he established with his wife Priscilla Chan.
In September, Zuckerberg said that he plans to sell between 35 million and 75 million shares over the next 18 months — though the Cambridge Analytica scandal and the resulting dip in Facebook's stock prices could change those plans.