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Mark Zuckerberg Is $8 Billion Richer In One Week After Facebook Earnings Surprise Analysts

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THE CHANGING FORTUNES OF THE WORLD’S RICHEST


T

he fortunes of some of the world’s richest people spiked up this week after America’s largest tech companies announced blockbuster first quarter earnings.

Mark Zuckerberg enjoyed the largest jump in wealth, getting $8 billion richer during Facebook’s earnings week to wind up with an estimated net worth of $117.8 billion. The social media giant shattered analysts’ expectations Wednesday afternoon with $26.1 billion in first-quarter revenue, 48% higher than last year, helping push the stock up by 7.3% Thursday to a record high. Facebook’s 8% gain for the week far outpaced the S&P 500 Index’s flat showing and the Dow Jones Industrial Average’s 0.5% decline.

Facebook’s revenue was nearly $3 billion higher than analysts had predicted, and its $9.5 billion net income—$3.30 per share—beat average expectations of $2.33 per share. Facebook’s surge also increased the net worths of billionaire cofounders Dustin Moskovitz and Eduardo Saverin by more than $1 billion each.

The world’s wealthiest person also had a good week. Jeff Bezos crossed the $200 billion mark for the first time since last October and is now worth an estimated $201.4 billion, $6.7 billion more than a week ago. Amazon stock rose 3.8% during the week in anticipation of the company’s first quarter earnings report. The company’s first quarter revenue and profit crushed expectations on Thursday, though the stock closed Friday down slightly for the day. Still, shares ended the week up 3.8%, also boosting the fortune of Bezos’ ex-wife MacKenzie Scott by $2.2 billion to an estimated $61.2 billion.

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Like its peers, Google parent Alphabet beat estimates Tuesday with first quarter revenues of $55.3 billion, 34% higher than last year. That figure helped drive a 2.3% rise in Alphabet stock this week, lifting the fortunes of cofounders Larry Page and Sergey Brin by $2.9 billion each. Page is now worth an estimated $102.7 billion, and Brin joined him as a centibillionaire Wednesday before Google’s stock decline Friday lowered his fortune to an estimated $99.6 billion.

Jiang Rensheng was the week’s biggest winner outside of the U.S. Shares of his Chinese vaccine firm Chongqing Zhifei Biological Products rose 16.6% this week, lifting his fortune by $4.4 billion to an estimated $30.9 billion. Zhifei’s three-dose Covid-19 vaccine was approved for emergency use in China in March; Jiang’s net worth has grown by more than 300% since the beginning of the pandemic.


HERE ARE THE BIGGEST BILLIONAIRE GAINERS THIS WEEK

The net worth change is from close of markets Friday, April 23 to Friday, April 30.


1 | MARK ZUCKERBERG

NET WORTH | $117.8 BILLION, UP $8 BILLION

COUNTRY | UNITED STATES

SOURCE OF WEALTH | FACEBOOK


2 | JEFF BEZOS

NET WORTH | $201.4 BILLION, UP $6.7 BILLION

COUNTRY | UNITED STATES

SOURCE OF WEALTH | AMAZON


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3 | JIANG RENSHENG & FAMILY

NET WORTH | $30.9 BILLION, UP $4.4 BILLION

COUNTRY | CHINA

SOURCE OF WEALTH | VACCINES


4 | MUKESH AMBANI

NET WORTH | $76.3 BILLION, UP $4.4 BILLION

COUNTRY | INDIA

SOURCE OF WEALTH | DIVERSIFIED


5 | LARRY PAGE

NET WORTH | $102.7 BILLION, UP $2.9 BILLION

COUNTRY | UNITED STATES

SOURCE OF WEALTH | GOOGLE


6 | SERGEY BRIN

NET WORTH | $102.7 BILLION, UP $2.9 BILLION

COUNTRY | UNITED STATES

SOURCE OF WEALTH | GOOGLE


7 | MACKENZIE SCOTT

NET WORTH | $61.2 BILLION, UP $2.2 BILLION

COUNTRY | UNITED STATES

SOURCE OF WEALTH | AMAZON


8 | QIAN DONGQI & FAMILY

NET WORTH | $9.8 BILLION, UP $2 BILLION

COUNTRY | CHINA

SOURCE OF WEALTH | HOME-CLEANING ROBOTS


9 | LI XITING

NET WORTH | $26.2 BILLION, UP $1.9 BILLION

COUNTRY | CHINA

SOURCE OF WEALTH | MEDICAL DEVICES


10 | XU HANG

NET WORTH | $23.5 BILLION, UP $1.7 BILLION

COUNTRY | CHINA

SOURCE OF WEALTH | MEDICAL DEVICES


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Introducing Facebook Graph API v18.0 and Marketing API v18.0

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Today, we are releasing Facebook Graph API v18.0 and Marketing API v18.0. As part of this release, we are highlighting changes below that we believe are relevant to parts of our developer community. These changes include announcements, product updates, and notifications on deprecations that we believe are relevant to your application(s)’ integration with our platform.

For a complete list of all changes and their details, please visit our changelog.

General Updates

Consolidation of Audience Location Status Options for Location Targeting

As previously announced in May 2023, we have consolidated Audience Location Status to our current default option of “People living in or recently in this location” when choosing the type of audience to reach within their Location Targeting selections. This update reflects a consolidation of other previously available options and removal of our “People traveling in this location” option.

We are making this change as part of our ongoing efforts to deliver more value to businesses, simplify our ads system, and streamline our targeting options in order to increase performance efficiency and remove options that have low usage.

This update will apply to new or duplicated campaigns. Existing campaigns created prior to launch will not be entered in this new experience unless they are in draft mode or duplicated.

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Add “add_security_recommendation” and “code_expiration_minutes” to WA Message Templates API

Earlier this year, we released WhatsApp’s authentication solution which enabled creating and sending authentication templates with native buttons and preset authentication messages. With the release of Graph API v18, we’re making improvements to the retrieval of authentication templates, making the end-to-end authentication template process easier for BSPs and businesses.

With Graph API v18, BSPs and businesses can have better visibility into preset authentication message template content after creation. Specifically, payloads will return preset content configuration options, in addition to the text used by WhatsApp. This improvement can enable BSPs and businesses to build “edit” UIs for authentication templates that can be constructed on top of the API.

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Note that errors may occur when upgrading to Graph API v18 if BSPs or businesses are taking the entire response from the GET request and providing it back to the POST request to update templates. To resolve, the body/header/footer text fields should be dropped before passing back into the API.

Re-launching dev docs and changelogs for creating Call Ads

  • Facebook Reels Placement for Call Ads

    Meta is releasing the ability to deliver Call Ads through the Facebook Reels platform. Call ads allow users to call businesses in the moment of consideration when they view an ad, and help businesses drive more complex discussions with interested users. This is an opportunity for businesses to advertise with call ads based on peoples’ real-time behavior on Facebook. Under the Ad set Level within Ads Manager, businesses can choose to add “Facebook Reels” Under the Placements section.
  • Re-Launching Call Ads via API

    On September 12, 2023, we’re providing updated guidance on how to create Call Ads via the API. We are introducing documentation solely for Call Ads, so that 3P developers can more easily create Call Ads’ campaigns and know how to view insights about their ongoing call ad campaigns, including call-related metrics. In the future, we also plan to support Call Add-ons via our API platform. Developers should have access to the general permissions necessary to create general ads in order to create Call Ads via the API platform.

    Please refer to developer documentation for additional information.

Deprecations & Breaking Changes

Graph API changes for user granular permission feature

We are updating two graph API endpoints for WhatsAppBusinessAccount. These endpoints are as follows:

  • Retrieve message templates associated with WhatsAppBusiness Account
  • Retrieve phone numbers associated with WhatsAppBusiness Account

With v18, we are rolling out a new feature “user granular permission”. All existing users who are already added to WhatsAppBusinessAccount will be backfilled and will continue to have access (no impact).

The admin has the flexibility to change these permissions. If the admin changes the permission and removes access to view message templates or phone numbers for one of their users, that specific user will start getting an error message saying you do not have permission to view message templates or phone numbers on all versions v18 and older.

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Deprecate legacy metrics naming for IG Media and User Insights

Starting on September 12, Instagram will remove duplicative and legacy, insights metrics from the Instagram Graph API in order to share a single source of metrics to our developers.

This new upgrade reduces any confusion as well as increases the reliability and quality of our reporting.

After 90 days of this launch (i.e. December 11, 2023), we will remove all these duplicative and legacy insights metrics from the Instagram Graph API on all versions in order to be more consistent with the Instagram app.

We appreciate all the feedback that we’ve received from our developer community, and look forward to continuing to work together.

Please review the media insights and user insights developer documentation to learn more.

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Deprecate all Facebook Wi-Fi v1 and Facebook Wi-Fi v2 endpoints

Facebook Wi-Fi was designed to improve the experience of connecting to Wi-Fi hotspots at businesses. It allowed a merchant’s customers to get free Wi-Fi simply by checking in on Facebook. It also allowed merchants to control who could use their Wi-Fi and for how long, and integrated with ads to enable targeting to customers who had used the merchant’s Wi-Fi. This product was deprecated on June 12, 2023. As the partner notice period has ended, all endpoints used by Facebook Wi-Fi v1 and Facebook Wi-Fi v2 have been deprecated and removed.

API Version Deprecations:

As part of Facebook’s versioning schedule for Graph API and Marketing API, please note the upcoming deprecations:

Graph API

  • September 14, 2023: Graph API v11.0 will be deprecated and removed from the platform
  • February 8, 2024: Graph API v12.0 will be deprecated and removed from the platform
  • May 28, 2024: Graph API v13.0 will be deprecated and removed from the platform

Marketing API

  • September 20, 2023: Marketing API v14.0 will be deprecated and removed from the platform
  • September 20, 2023: Marketing API v15.0 will be deprecated and removed from the platform
  • February 06, 2024: Marketing API v16.0 will be deprecated and removed from the platform

To avoid disruption to your business, we recommend migrating all calls to the latest API version that launched today.

Facebook Platform SDK

As part of our 2-year deprecation schedule for Platform SDKs, please note the upcoming deprecations and sunsets:

  • October 2023: Facebook Platform SDK v11.0 or below will be sunset
  • February 2024: Facebook Platform SDK v12.0 or below will be sunset

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Allowing Users to Promote Stories as Ads (via Marketing API)

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Before today (August 28, 2023), advertisers could not promote images and/or videos used in Instagram Stories as ads via the Instagram Marketing API. This process created unwanted friction for our partners and their customers.

After consistently hearing about this pain point from our developer community, we have removed this unwanted friction for advertisers and now allow users to seamlessly promote their image and/or video media used in Instagram Stories as ads via the Instagram Marketing API as of August 28, 2023.

We appreciate all the feedback received from our developer community, and hope to continue improving your experience.

Please review the developer documentation to learn more.

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Launching second release of Facebook Reels API: An enterprise solution for desktop and web publishers

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We’re excited to announce that the second release of FB Reels API is now publicly available for third-party developers. FB Reels API enables users of third-party platforms to share Reels directly to public Facebook Pages and the New Pages Experience.

FB Reels API has grown significantly since the first release in September 2022. The new version of the APIs now support custom thumbnails, automatic music tagging, tagging collaborators, longer format of reels and better error handling.

FB Reels API will also support scheduling and draft capability to allow creators to take advantage of tools provided either by Meta or by our partners. Based on the feedback we received from our partners, we’ll now provide additional audio insights via the Audio Recommendations API and reels performance metrics via the Insights API.

Our goal in the next couple of releases is to continue to make it easier for creators to develop quality content by adding features like early copyright detection and A/B testing. We’re also excited to start working on enhanced creation features like Video clipping- so stay tuned to hear more about those features in the future.

Call-to-Action

If you are a developer interested in integrating with the Facebook Reels API, please refer to the Developer Documents for more info.

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Not sure if this product is for you? Check out our entire suite of sharing offerings.

Tune in to Product @scale event to learn more about FB Video APIs and hear from some of our customers.

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