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Mark Zuckerberg Overtakes Warren Buffett, Now Third-Richest Person in the World

PARIS, FRANCE - MAY 23: Facebook CEO Mark Zuckerberg leaves the Elysee Presidential Palace after the "Tech for Good" Summit on May 23, 2018 in Paris, France. Tech for Good is summit with leaders within the technolgy industry, which takes place on the sidelines of the VivaTech fair. (Photo by Chesnot/Getty Images)

Facebook Chief Executive Officer Mark Zuckerberg on Saturday overtook American businessman Warren Buffett to become the world’s third-richest person.

The 34-year-old Zuckerberg is now worth about $81.6 billion, and trails only Amazon founder Jeff Bezos and Microsoft’s Bill Gates. Bezos is worth $142 billion, while Gates’ worth is $94.2 billion, according to the Bloomberg Billionaires Index. It is a daily ranking of the world’s richest people, and the figures are updated at the end of each day’s trade in New York.

This is the first time that the three richest people on the list made their fortunes from technology, the report said. Buffett, the chairman of multinational conglomerate holding company Berkshire Hathaway, is in fourth place with a net worth of $81.2 billion.

Zuckerberg seems to have shaken off the fallout due to the data privacy crisis, which sent Facebook’s shares to an eight-month low of $152.22 on March 27, Bloomberg reported. On Friday, the stock closed at $203.23. Investors have continued to support the social media company despite the crisis.

The company has been under intense scrutiny in the past few months after it became public that British political consulting firm Cambridge Analytica had accessed private information of 87 million Facebook users. The company also failed to identify alleged Russian interference in the 2016 presidential election in the United States.

 

 

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