Business

Mark Zuckerberg Overtakes Warren Buffet To Become Third Richest Person In The World

JAVED SAIFI | 0
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| July 7 , 2018 , 15:18 IST

Facebook co-founder and CEO Mark Zuckerberg, 34, overtakes Warren Buffet to become the third richest person in the world with a net worth $81.6 Billion about $373 million more than Warren Buffett.

According to a Bloomberg report, Zuckerberg surpassed Buffett on Friday as Facebook share ascended by 2.4 percent.

Now the world has top three Billionaires Jeff Bezos, Bill Gates and Mark Zuckerberg who have earned their fortunes from Internet technology entrepreneurship. They are founders of tech giants Amazon, Microsoft and Facebook.

Amazon founder Jeff Bezos remains at the top with a net worth of 140.9 billion, first ever to reach three digit number. Bezos owns 16% share of Amazon whereas Microsoft co-founder Bill Gates' net worth is $92.7 Billion and he owns just 1% shares in Microsoft.

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Zuckerberg's net worth increased due to continuous investments in the social-network giant Facebook that overcame losses caused by the data-privacy crisis a few months back. That data-privacy crisis had hammered Facebook shares with a record low of $152.22 on March 27, but the stock closed on Friday stood at $203.23.

Buffett had given 290 million Berkshire Hathaway Class B shares to charities, mostly to gates foundation that worth more than $50 billion. Zuckerberg has pledged to give away 99 percent of his Facebook stock in his lifetime.