Mark Zuckerberg Tops Warren Buffett to Become the World’s Third-Richest Person

Mark Zuckerberg Tops Warren Buffett to Become the World’s Third-Richest Person

Facebook's move pushed CEO Mark Zuckerberg's net worth closer to the top of the list in rankings of the world's wealthiest, and he now sits in fourth place on the Bloomberg Billionaires Index, just behind Warren Buffett.

Facebook CEO Mark Zuckerberg is now worth $81.6 billion, about $373 million more than Berkshire Hathaway Inc.'s Warren Buffett, making him the world's third-richest person. Those shares are now worth more than $50 billion, according to data compiled by Bloomberg.

This comes soon after Facebook was embroiled in the data breach scandal in which data of its 87 million users was shared with Cambridge Analytica.

Facebook appears to have made it through its worst storm to date, though.

Two US Navy warships sail through Taiwan Strait
The move also is considered sensitive because of China's claims over Taiwan, which it views as a breakaway province. Marines usually guard missions in countries with which Washington has formal diplomatic ties.

Mark was able to reach this feat because, according to Bloomberg index, technology income make up the fifth of the more than $5 trillion fortunes in the world.

Buffet himself has also bet on tech. The record stock price comes after a bumpy year for the social network, in which scandals surrounding political elections worldwide-including 2016's US presidential election-left many doubting the clout of one of tech's largest giants.

Buffett, who is once the world's richest person, slid in the ranking largely because of his charitable giving. Berkshire Hathaway bought about 75 million shares of Apple stock during the first three months of the year, adding to the 165 million shares it already had.

Zuckerberg passed Buffett Friday as Facebook shares rose 2.4 percent, Bloomberg reported. The Facebook CEO's worth has risen by around $19 billion in a little over three months, after a steady downfall in the wake of the data privacy scandal, days before the comeback.

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