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Mark Zuckerberg climbs to number three in the rich list

The Facebook CEO beat Warren Buffett to the 'bronze medal' position in the list of the world's richest people.

  • Published: July 9, 2018 9:42 AM IST
Mark Zuckerberg F8

Facebook CEO Mark Zuckerberg is now the third-richest person in the world, behind Amazon’s Jeff Bezos and Microsoft principal founder Bill Gates. An increase in the value of Facebook shares puts Zuckerberg’s net worth at $81.6 billion, about $370 million ahead of the previous holder of the number-three position, Warren Buffett, CEO of Berkshire Hathaway.

While Warren Buffett has built his fortune using smart investing tactics and putting money in the right places, Mark Zuckerberg has built a social media empire out of Facebook, his creation from his college days. The net worth of the world’s richest people is closely linked to the share values of their companies, and can vary by billions of dollars depending on the performance of those shares in the market. Zuckerberg’s latest jump has to do with a rise in Facebook share valuations, which have risen by about 15 percent in the last one year.

The world’s richest person is Jeff Bezos, the founder and current CEO of Amazon, with a net worth of $141 billion. Number two on the list is Bill Gates, who has for years been the world’s richest person, occasionally swapping places with others on the list. While Gates no longer has an active executive role at Microsoft, his holdings in the company have kept him among the highest net-worth individuals.

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The rise of Mark Zuckerberg to number three means that the current top-three on the list are all founders of technology companies. Warren Buffett may seem like the odd one out, but his net worth also has to be with smart investments in companies that have since grown massively, including Apple, American Express and Coca Cola.

  • Published Date: July 9, 2018 9:42 AM IST