FB is now the 8th most profitable company in the world.
By Raif Karerat
WASHINGTON, DC: Facebook, one of the most ubiquitous and prominent internet companies in the world, has now become one of the highest-valued after a surge in stock pricing enabled the company to leapfrog both Procter & Gamble and General Electric to become the eighth most profitable company in the world.
In the process of Facebook joining the top ten companies of the S&P stock market index, founder and CEO Mark Zuckerberg also became the ninth richest person in the world, according to The Independent.
Zuckerberg is now worth an estimated $42.9 billion, shy of the fortune owned by Amazon founder Larry Bezos, who is worth $43.5 billion, and that of Oracle database founder Larry Ellison, who is worth $43.7 billion.
Facebook now has a market value of $274.95 billion. Apple still leaves all other companies on the S&P languishing in its wake, with a current market value of $760.86 billion. On Tuesday, Facebook closed at a one year high of $97.58 per share.
Until Facebook stormed into the highest echelon of the index, S&P Capital IQ reported the following companies comprised the top ten as of February 2015:
Company | Symbol | Market value ($ (billions) |
Apple | AAPL | $710.70 |
Exxon Mobil | XOM | $385.40 |
Berkshire Hathaway | BRKA | $370.00 |
GOOGL | $367.40 | |
Microsoft | MSFT | $349.50 |
Wells Fargo | WFC | $283.10 |
Wal-Mart | WMT | $281.40 |
Johnson & Johnson | JNJ | $280.90 |
General Electric | GE | $248.20 |
Procter & Gamble | PG | $230.60 |