Time names Mark Zuckerberg as the person of the year

Mark Zuckerberg, the founder of the world’s biggest social networking site, Facebook, one the biggest achiever and icon of the millions of the youngsters has been named as ‘the person of the year’ by Time magazine for ‘creating a new system of exchanging information’ and ‘giving a new definition of living of life ’.

Richard Stengel, the Editor of Time magazine expressed his opinion in a letter on the magazine’s website that Mark Zuckerberg began the world’s largest social networking site in 2004 which was being used by more than 500 million users. He further added that his creation eliminated the gap amongst people and changed the definition of privacy.

The Time’s cover story on Mark Zuckerberg says that Mark Zuckerberg’s wealth increased by $6.9 billion in a year which was the largest percentage (245%) increase on its annual list. Zuckerberg has been listed for no 35 among 400 wealthiest American.

Facebook is the third largest web business in U.S., which is alluring the investors.

In a press conference, Mark Zuckerberg said that selling shares in the company was a possibility, without offering the time table or details.

Recently, a movie was released ‘The Social Network’, which casted the creation and the rise of the Facebook.

In its initial times the company faced many legal challenges, Zuckerberg was alleged by the brothers Tyler Cameron Winklevoss, Harvard student who said that they hired Zuckerberg for creating a social site.

The seventy percent of the users of the Facebook are other than Americans.

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