“It’s a club and you ain’t in it.” Comedian George Carlan coined that famous line and it is true now more than ever.
Facebook shares surged by 6% on the news that the company is launching Instagram Reels, a rival to Chinese video sharing application TikTok. Earlier this week President Trump announced that he was banning US companies from dealing with Tencent and ByteDance, the Chinese owners of WeChat and TikTok platforms.
Mark Zuckerberg, 36, joins Bill Gates and Jeff Bezos and the only people who have centbillionaire status, according to Bloomberg Billionaires Index.
The wealth disparity in America continues to skyrocket, in a time where stimulus packages have been critical to the functionality of the nation.
Founded in 2004 at Harvard, Zuckerberg owns 13% of the company and plans on giving away 99% of his Facebook shares over his lifetime to charity.