Shares of the professional social network surged nearly 50% following news of a Microsoft acquisition, significantly boosting Reid Hoffman's wealth.

On June 13th, Microsoft announced the acquisition of the professional social network LinkedIn for $26.2 billion in cash. This is the software giant's largest acquisition to date, surpassing the $8.5 billion spent on Skype in 2011 and the $7.2 billion purchase of Nokia's mobile division in 2013.

The biggest beneficiary of this acquisition is LinkedIn's chairman and founder, Reid Hoffman. His net worth increased by more than $800 million yesterday morning, as LinkedIn shares rose nearly 50% to $192.

Reid Hoffman - Chairman and founder of LinkedIn.

According to Forbes, his current net worth is $3.7 billion. However, once the transaction is complete, Hoffman will have to pay state and federal taxes on the shares sold to Microsoft. At that point, that figure will be reduced to $2.95 billion.

"Today feels like LinkedIn is being reborn. I see tremendous opportunities for our members and customers and want to contribute to this new business," Hoffman said in a statement.

This is a huge boost for Hoffman. Back in February, LinkedIn lost over $10 billion in market capitalization in a single day when its stock plummeted following a weak earnings report. Hoffman also lost over a billion dollars that day.

Despite LinkedIn reporting a 19% increase in users in the first quarter of this year, its stock has yet to recover and remains far below its peak of $270 in February 2015.

Known as "the most connected person in Silicon Valley," Hoffman is also an investor at Greylock Partners. He has invested in companies such as Airbnb and Zynga. Hoffman was also one of the earliest investors in Facebook.

Some people who also benefited from the Microsoft-LinkedIn deal include Michael Moritz of Sequoia Capital. His shares are now worth $129 million, up $41 million from last week. LinkedIn CEO Jeff Weiner's 408,000 shares are also now worth $78 million.

According to VnExpress