Along with Facebook's shares skyrocketing yesterday, the company's founder Mark Zuckerberg's wealth ballooned to almost US$3.8 billion. Stocks of the world's most widely used social networking website rallied 30% to its highest level in more than a year since May 2012.
Analysts said that the rally was prompted by a massive demand for advertising targeting the mobile market. Revenue from mobile ads boosted the company, reflective of how analysts predicted that advertising will gravitate towards the booming smartphone market.
"Very few people saw the pace at which the entire activity of the planet's Internet connectivity was going to move toward mobile," noted author David Kirkpatrick. The "The Facebook Effect" writer said that the mobile shift is very clear to everyone now.
The 29-year old chief executive officer of Facebook rose to the 42nd spot on Bloomberg's Billionaires index. His new net worth of US$16.8 billion puts him over Microsoft's Steve Ballmer.
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