Facebook founder Mark Zuckerberg’s net worth shot up by $5 billion during the first weeks of 2017 as he made more money than anyone else in the world, according to Forbes. He has not only bounced back from his loss when his net worth fell to $49 billion, but he is now the fifth richest person in the world with an estimated net worth of $53.8 billion.
Facebook’s share value increase might be due to the positive feedback that it has been getting lately. The social networking site launched a “journalism project” on Wednesday that aims to find a solution in response to the surge of fake news on their site. Facebook also hopes to improve its relationship with the media and create a “news literacy” environment for all.
Zuckerberg, who owns 410 million Facebook shares, trails behind other billionaires on the list including Bill Gates, Jeff Bezos, Warren Buffet, and Amancio Ortega. Last year was Zuckerberg’s first time to be included in the top five of Forbes’ richest list.
Meanwhile, the young billionaire took some time to clarify “misleading” articles about the 700 acres of land that he bought in Hawaii. In the news, he allegedly sued Hawaiian families to force them to move from the lot that he paid $100 million for.
Through his Facebook account, he explained his side of the story and said that the “quiet title” action was actually to find all partial owners of the land so that they can be paid a fair share.
“The land is made up of a few properties. In each case, we worked with the majority owners of each property and reached a deal they thought was fair and wanted to make on their own. As with most transactions, the majority owners have the right to sell their land if they want, but we need to make sure smaller partial owners get paid for their fair share too,” he said.
Zuckerberg also noted that no one will be forced off the land.
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