Current Affairs PDF

Fortune magazine named Mark Zuckerberg Business Person of the Year

AffairsCloud YouTube Channel - Click Here

AffairsCloud APP Click Here

Fortune magazine has named the co-founder and CEO of the biggest social networking site Facebook, Mark Zuckerberg as Business Person of the Year, 2016.The 32 year old Zuckerberg, was honored based on various criteria, including the company’s performance year over year as well as his vision for growth and the ability to achieve it.

  • Mark Zuckerberg was followed by Amazon CEO Jeff Bezos, who is recognized for dominating e-commerce and for breaking new ground by developing products such as the Amazon Echo.
  • While mary Dillon- founder of the Ulta beauty cosmetics store stands on 3rd place.

The list consisted of 50 personalities. The top 5 among them are:

1Mark ZuckerbergCEOFacebook
2Jeff BezosCEOAmazon
3Mary DillonCEOUlta Beauty
4Larry PageCEOAlphabet
5Satya NadellaCEOMicrosoft

Mark Zuckerberg

Mark Zuckerberg, born on May 14, 1984 is an American computer programmer, internet entrepreneur, and philanthropist. He is the chairman, chief executive officer, and co-founder of social networking website Facebook. His net worth is estimated to be US $55.3 billion as of October 2016, ranking him as the 5th richest person in the worldBusiness Person of the year

Zuckerberg as a business person

An examination of Zuckerberg’s management approach reveals that his success rests on three pillars:

  1. His unique ability to look into the future,
  2. His imagination consistency,
  3. and the business discipline he has nurtured in an industry quite often with bright, shiny objects.

Facebook :

Facebook was launched on February 4 2004. It is about 16,000-employee media powerhouse worth $350 billion and also an advertising-technology with huge annual revenues of $27 billion in 2016 and extraordinary profits of $7 billion. The social site has almost 1.8 billion users.

  • Zuckerberg has remained chief executive throughout Facebook’s 12-year journey and has innovatively assembled a portfolio of properties to support Facebook.
  • Despite repeated ups and downs for Facebook, when it was seen as losing its craze with young people, Zuckerberg remained the company’s chief product visionary and business strategist.
  • Through bold acquisitions and the articulation of a remarkably constant mission, Zuckerberg has kept Facebook on track despite various attacks from the likes of Google, Twitter, Snapchat, and others.