Facebook CEO Mark Zuckerberg spent ten hours in Congress on Tuesday and Wednesday, facing questions and apparently came out on top. Even though the Facebook shares dipped Thursday morning, they are still up nearly 3% since Zuckerberg entered the Senate on Tuesday.
The stock was already getting stable after the investors digested the remarks from Zuckerberg following the Cambridge Analytica scandal. Facebook stock has gained about 4.5% since the start of trading since Tuesday morning.
Mark Zuckerberg owns more than 401.4 million Facebook shares and he got nearly $3 billion richer in the past couple of days. His stake in the company is now $66 billion which is nearly all of his total net worth. This is good enough to make him the seventh richest person in the world.
Other people who own Facebook shares have profited as well. The total market value of the company has risen by $23 billion since Tuesday morning. The stock is still down about 7% this year though, making Facebook the worst performer among the big tech stocks.
Shares are still 16% down from the all-time high that they hit before the Cambridge Analytica scandal. That wave seems to have passed by now and things are looking up again. Facebook might still face some more regulation calls but all the social media websites are on the rise once more.