As of today, Mark Zuckerberg’s net worth is up a stunning $3.7 billion, but the Facebook zillionaire isn’t ready to hang up his hoodie and rest easy just yet.
Thursday, Mark Zuckerberg discussed Facebook’s challenges in the past, present and future on an earnings call after a tumultuous year and controversial initial public offering.
Forbes notes that a roller coaster Facebook valuation frenzy ultimately has pulled up and out for Zuck, explaining:
“After debuting on the Nasdaq in May 2012, Facebook’s shares fell well below the $38 initial offering price, hitting an all-time low of $17.73 in September 2012. Thursday marks the first time since January that the stock has closed above $30… For Zuckerberg, Facebook’s largest shareholder with more than 425 million shares, the social networking company’s gain is a major boost for his bank account. His net worth is at its highest ever since the week of his company’s IPO.”
But as Facebook holds steady balancing the social media realm, Zuckerberg acknowledged the consistent speculation that the service was rapidly losing market share among the crucial teen demographic.
Young social media users can be stymied both by age restrictions and lured by new services, and Zuck addressed both in comments he made about teens and Facebook on the earnings call.
He began, denying teens are abandoning Facebook at meaningful rates:
“One specific demographic I want to address is U.S. teens. There’s been a lot of speculation and reporting that fewer teens are using Facebook, but based on our data that just isn’t true.”
Zuckerberg continued, admitting that stats can be shaky for a number of reasons:
“It’s difficult to measure this perfectly since some young people lie about their age, but based on the best data we have we believe that we are close to fully penetrated in the U.S. teen demographic for a while and the number of teens using Facebook on both a daily and monthly basis has been steady over the past year and a half. Teens also remain really highly engaged using Facebook.”
He concluded, noting that where Facebook may have ceded ground, Instagram rallied:
“Now it’s also worth mentioning that these stats are for Facebook only. Instagram is growing quickly as well. So if you combine the two services together, we believe our engagement and share of time spent are likely growing quickly throughout the world.”
On Mark Zuckerberg’s Facebook earnings call, it was revealed that the social network clocked more than $330 million in revenue in Q2.