Mark Zuckerberg Is Now The Third Richest Person Of The World

Mark Zuckerberg Is Now The Third Richest Person Of The World

Mark Zuckerberg Is Now The Third Richest Person Of The World

New Delhi: The Chief Executive Officer of Facebook, Mark Zuckerberg, has left behind Warren Buffett to become the world's third-richest person, which further solidified that technology is the most robust creator of wealth.

Acccording to the Bloomberg Billionaires Index, the Facebook CEO is only behind Jeff Bezos, the founder of and Microsoft co-founder Bill Gates, eclipsed Buffett Friday as Facebook shares climbed 2.4 percent. 

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This has happened for the first time that three wealthiest people on the ranking made their fortunes from technology. The 34 years old Zuckerberg, is now worth $81.6 billion (approximately Rs. 5.61 lakh crores), about $373 million (roughly Rs. 2,565 crores) more than Buffett, 87, chairman and chief executive officer of Berkshire Hathaway Inc.

The success of Zuckerberg has been driven by the investors who continue to embrace Facebook. The social-network giant had a  fallout due to data-privacy crisis that hammered its shares, sending them to an eight-month low of $152.22 on March 27. At Friday, the stock closed at a record $203.23 

The Bloomberg index tracked that the, Technology fortunes makes up about a fifth of the more than $5 trillion which is more than any other sector. The ranking, which tracks the world's 500 richest people, is updated after the close of each trading day in New York.

Once the world's wealthiest person, Buffett, is sliding in the ranking thanks to his charitable giving, which he kicked off in earnest in 2006. Berkshire Hathaway Class B shares worth 290 million  were donated by Warren to charities, most of it were donated to Gates's foundation. As per the data compiled by Bloomberg, those shares are now worth more than $50 billion (about Rs. 3.44 lakh crores), Zuckerberg has pledged to give away 99 percent of his Facebook stock in his lifetime.


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