Facebook's Zuckerberg passes Warren Buffett as world's third-richest person

07 July, 2018, 22:51 | Author: Eric Barnett
  • Facebook CEO Mark Zuckerberg becomes the world's third wealthiest person passing Warren Buffett

Facebook CEO Mark Zuckerberg overtook the legendary investor and Berkshire Hathaway CEO Warren Buffett to become the world's 3rd richest person as per the net worth calculated by Bloomberg.

The ranking list is still being lead by a wide margin by CEO of Amazon, Jeff Bezos - approximately $48 billion worth more than Bill Gates, who is now ranked at second place.

Zuckerberg, 34, is now worth $US81.6 billion ($109.8 billion), about $US373 million more than Buffett, the 87-year-old chairman and chief executive officer of investment company Berkshire Hathaway.

The standings mean that this is the first time the world's three richest people all made their fortunes in technology.


Facebook stock closed at an all-time high of Friday, ending the day at $203.23 up 2.41% on a rally that shows that investors love the social network more than ever. The social network is now valued at about $571 billion going into the weekend, Bloomberg reported.

Zuckerberg's ascent to No. 3 underscores a sharp climb in Facebook shares since late March, when they was reeling following reports of a data-handling scandal with political consultant Cambridge Analytica.

Buffett, once the world's wealthiest person, is sliding in the ranking thanks to his charitable giving, which he kicked off in earnest in 2006.

According to the Bloomberg Index, fortunes made in technology make up about a fifth of the more than $5 trillion, more than any other sector. The top spot was once held by Buffett, but he has since slid down the rankings after major donations to charities such as the Gates' foundation.

Recommended:

  • Russian Federation  v Croatia quarter-final

    Russian Federation v Croatia quarter-final

    This shouldn't be a problem for us, and ultimately we should not be hoping to have any excuses'. Russian Federation will play Croatia at the Fisht Stadium in Sochi on Saturday.
    Black State Rep. Says Someone Called Cops On Her While Canvassing

    Black State Rep. Says Someone Called Cops On Her While Canvassing

    She said she saw Bynum walking from house to house "for no apparent reason", and appeared to be wearing no identification. The deputy said someone reported Bynum going around the neighborhood and taking notes on her phone, according to CNN .
    Goalkeeping calamity helps France qualify for semifinals

    Goalkeeping calamity helps France qualify for semifinals

    Cavani couldn't play against France because of an injury to his left calf suffered in the Round of 16 match against Portugal. The country was trying to reach the semifinals for the second time in the last three World Cups .
  • Toyota's new Supra will run in NASCAR

    Toyota's new Supra will run in NASCAR

    In its stead, the Japanese auto giant will field a race vehicle that previews the look of the upcoming Toyota Supra . The Supra will replace the Camry that Toyota has campaigned in the series since 2007.
    Sonos files for an IPO

    Sonos files for an IPO

    Sonos' commitment to excellent, easy to use, wireless, multi-room speaker systems has paid off, to some extent. In preparation for its anticipated IPO, Sonos cut about 6 percent of its workers to help boost profitability.
    Fire near Oregon-California border jumps I-5

    Fire near Oregon-California border jumps I-5

    Evacuations orders remain in place for the communities of Hornbrook, Hilt, Colestin and Irongate reservoir. ODOT said conditions could change depending on fire behavior throughout the day.
  • What is in Theresa May's Brexit plan?

    What is in Theresa May's Brexit plan?

    Ending free movement "giving the United Kingdom back control over how many people enter the country". Business Secretary Greg Clark: "Very positive conclusion to Chequers meeting".
    Coach of Thai boys trapped in cave offers apology to parents

    Coach of Thai boys trapped in cave offers apology to parents

    Meanwhile, rescuers outside the cave have dug more than 100 holes in an attempt to reach the cave by a direct route. As it is now monsoon season in Thailand , the risk of heavy rain flooding the caves even further remains high.
    Iran slams Trump and his 'tweeting methods'

    Iran slams Trump and his 'tweeting methods'

    Healy Baumgardner, a global fossil fuel adviser and the former press secretary for the Energy Department under President George W. Producing at that level would require more drilling and expanding existing fields - it isn't as simple as just opening the taps.
  • Maguire scores, England leads 2-0 against Sweden

    Maguire scores, England leads 2-0 against Sweden

    Sweden has won three out of four games at the World Cup, with the only loss coming against Germany. After I made that first save from Berg, it set me up for the rest of the game.
    Mother Teresa Indian Charity Home Allegedly Sold Babies

    Mother Teresa Indian Charity Home Allegedly Sold Babies

    Nuns at the charity told police that the boy's mother had taken the child away, said Ranchi inspector general Ashish Batra . They are accused of selling a child born to an inmate of a shelter home that is run by the Missionaries of Charity.
    Chicago Bulls: 3 players to watch in the NBA Summer League

    Chicago Bulls: 3 players to watch in the NBA Summer League

    Having already been a part of the organization for a year, he has a bit of an advantage over other rookies and unsigned players. Without further ado, here are my three players to keep an eye on as the Bulls kick off their Summer League stint.


Popular

Mom's healthy lifestyle lowers child's risk of obesity
Children of mothers who followed five healthy lifestyle choices were a full 75% less likely to be obese . Smoking status played a big role too, with non-smokers children 31% less likely to become obese .

England dominates to move one step away from World Cup final
England achieved something David Beckham's generation never managed: It reached the semifinals of the World Cup . It's an all European affair in the third quarterfinal at the 2018 World Cup , when Sweden take on England .

Love Island 2018: Georgia and Ellie clash in EXPLOSIVE spat - watch here
And things get even worse for Laura on Friday night when Jack tells her Georgia tried to kiss him TWICE on their date. If that isn't enough, Love Island has given us a sneak peak of tonight's drama and the villa is on meltdown.

North Korea warns talks with USA delegation `regrettable´
Secretary of State Mike Pompeo drives towards Kumsusan Palace of the Sun in Pyongyang, North Korea, Friday, July 6, 2018. What did the Trump administration say? Pompeo's trip aimed to secure the details of Kim's promise of denuclearization.

'Tiny' Beryl becomes the first hurricane of the 2018 Atlantic season
The hurricane became less organized on Saturday morning and forecasters said it soon could be downgraded to a tropical storm. The storm is expected to encounter a hostile environment over the weekend and on Monday once it reaches the Caribbean Sea.

Hosepipe Ban Goes National
The public is urged to continue conserving water in every possible way to ensure a continuous supply for all. The group included Met Eireann, the Dept of Housing, the HSE, Gardai, Irish Water and other groups.

New mayor shaking up politics in northern city
Magid, who arrived in the U.K.as an immigrant from Somalia, said Britain shouldn't have invited Trump to visit at all. He issued his Trump ban while wearing a sombrero which he said was in solidarity with the people of Mexico.

Statue of Liberty climber charged for "dangerous stunt"
Okoumou was born and raised in the Democratic Republic of Congo before moving to NY , according to Jamie Bauer, another protester. Trump, at a rally in Great Falls, Montana, called Okoumou a "clown" and praised the Park Police for getting her down safely.

A diet rich in nuts improves sperm count and motility
As well as improvements in sperm count and shape, the researchers examined the quality of DNA inside the sperm. Reduction in DNA fragmentation was the main reason why the other parameters also improved he said.

Actress Keri Russell In Talks To Join Star Wars: Episode IX
Production on Episode IX will begin at the end of July with more cast announcements likely to be revealed before filming starts. Abrams is in early talks with the " Felicity " alum to join " Star Wars: Episode IX ", which Abrams is writing and directing.