Facebook CEO Mark Zuckerberg's wealth continues to balloon amid a torrid run for his company's stock.
Facebook shares spiked more than 15 per cent Thursday after the social media giant's earnings reported Wednesday blew past Wall Street's most optimistic estimates. The value of Zuckerberg's Facebook stake rose by more than US$6 billion (S$8.5 billion) as of 2 p.m. ET.
The gain brought the 31-year-old Zuckerberg's net worth above US$47 billion, making him the world's sixth-richest person, according to Forbes. He passed Oracle founder Larry Ellison, who boasts a net worth of US$44 billion.
Facebook shares have now climbed more than 43 per cent in the last year. Its market value now sits at nearly US$310 billion.
Mark Zuckerberg speaks Mandarin at Chinese university dialogue
Zuckerberg will not personally enjoy most of his immense wealth. He and his wife, pediatrician Priscilla Chan, pledged last year to give 99 per cent of their Facebook shares to the Chan Zuckerberg Initiative, which will funnel money into education and health care, among other issues.
Zuckerberg has previously been vocal about education and immigration reform.
On Wednesday, Facebook posted fourth-quarter earnings of 79 cents per share on US$5.84 billion in revenue. Its monthly active user base grew to 1.59 billion people in the quarter.
The company also easily topped expectations for advertising revenue, both overall and on mobile platforms.