Billionaires



July 10, 2018,   4:52 PM

Mark Zuckerberg Is Now World’s Third-Richest Person, Surpassing Warren Buffett

Farah Al-Toukhi

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According to calculations made by Bloomberg, Facebook Inc. founder Mark Zuckerburg has replaced CEO of Berkshire Hathaway Warren Buffett as the world's third-richest person.

As per the Bloomberg billionaire index, Zuckerberg's new ranking can be attributed to Facebook's shares climbing 2.4% this week. Zuckerburg's total net worth is now estimated at $82.1 billion. Buffett's sliding in the ranking is largely due to his charitable pursuits.

In the number one and two spots on the billionaire's index are tech giants Jeff Bezos ($144 billion) and Bill Gates ($94.9 billion). This is the first time that the top three richest people on the list have all accumulated their fortunes through technology-based ventures.

Zuckerberg's reviving fortunes indicate that the investors seem to be warming up to Facebook despite a privacy scandal it was embroiled in earlier this year. Post the scandal, which erased billions from Facebook founder's fortunes, the social networking giant amended its privacy policy as it tightened access to users' online data. Zuckerberg was also called to testify in front of both the US and European lawmakers.

 


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