Facebook hits $1 trillion valuation
American social media company, Facebook, hit the $1 trillion market capitalization. This makes Facebook the fifth American company to do this. This was due to the company’s shares trading at $355.64 and recording a 61.2% in profit increment.
Mark Zuckerberg’s net worth has increased to $132 billion following this new development. The founder of Facebook is currently the fifth richest person in the world. He is also the youngest person to be worth over $100 billion.
Facebook was probed by the Federal Trade Commission on the ground of antitrust. Yet, the final verdict was in the company’s favour.
Financial analysts have predicted that Facebook’s shares will surge by more than 20%. This is due to an increase in the number of investors who will be buying its shares.