Mark Zuckerberg Now Third Richest Person On Earth

Mark Zuckerberg tops Warren Buffett to become world’s third-richest person

Facebook Inc.co-founder Mark Zuckerberg has overtaken American business magnate Warren Buffett as the world's third-richest person, further solidifying technology as the most robust creator of wealth.

Zuckerberg, 34, rounded out the tech giants now at the top of the money heap, following Amazon.com founder Jeff Bezos and and Microsoft co-founder Bill Gates in the No. 2 spot, according to the Bloomberg Billionaires Index, which tracks the world's 500 wealthiest people.

Facebook has come back from eight-month low shares of $152.22 in late March, at a time when the company and its founder were embroiled in a data privacy crises which resulted in Zuckerberg testifying in Congress, to close on Friday at a record $203.23.


Zuckerberg moved up the ladder after Facebook shares climbed 2.4 percent Friday.

Buffett, who once ranked as the world's wealthiest person, has now slid down to number four, largely in part to his charitable giving. Overall, the sector has contributed about one-fifth of the $5 billion in wealth tracked by the index, Bloomberg reported. Those shares are now worth more than $50 billion, according to data compiled by Bloomberg. 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.

Zuckerberg and wife Priscilla Chan have promised they will give away 99 per cent of Facebook stock during their lifetime.

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