FACEBOOK: It seems like being a copycat does have its perks after all. Facebook/Instagram CEO Mark Zuckerberg has seen a massive increase in his wealth as his net worth is currently at $100bn, which is also equivalent to £76bn.
What could have possibly caused this increase you might be wondering?
Well, we’ll tell you. It’s a copycat.
Facebook, a few days ago, launched its own cloned version of the already existing TikTok. And for some reason, it seems to be doing extraordinarily well.
The company probably took advantage of the heat that TikTok has been receiving from the United States government.
As they say, maybe the second time’s the charm. If you’ve followed our previous articles, you’d see that Facebook had a failed attempt at the initial stage of cloning TikTok. However, this new one called Reels appears to be so much a hit that it has made Zuckerberg richer!
Just on Thursday, Facebook had over a 6% increase in stocks because of the new feature that is attached to Instagram.
Big congratulations to Mark as he now takes a seat on the table with the big guys; Jeff Bezos, the founder of Amazon and Bill Gates, the founder of Microsoft as “Centibillionaires”.
This should not come as a surprise to you lot because since the coronavirus pandemic hit technology companies have been the largest benefactors.
Facebook makes it on this list because people need social media as a form of entertainment and a means to keep up with friends and family.
Apple saw this as a perfect time to release a new device. The “Affordable” iPhone SE.
Amazon for its product and delivery services.
These happen to be services that people cannot do without. So while other businesses are shutting down because they can’t keep up, these guys appear to be doing the most to stay needed and relevant.
What’s popping with TikTok?
Just as we said, Zuckerberg’s Reels could not have come at a better time. Now, TikTok has been going through a lot with the Trump Administration. Why? We’ll tell you.
Although TikTok has a base in America, its parent company ByteDance is in China. Why is this a problem?
Trump accused TikTok of “allegedly” stealing data from Americans and sending it to China, and this has been deemed as a threat to the United States.
TikTok has however disclaimed any of such allegations.
Trump as well threatened that if the company does not sell a part of its market that has to with data, the platform would be banned in America.
This is where Microsoft comes in as we discover that they intend on buying TikTok For $30bn