Mark Zuckerberg is world’s third-richest person, replaces Warren Buffett

Jeannie Matthews
July 9, 2018

Almost all of Zuckerberg's wealth is tied up in the shares and last week's spike inched him past Buffett ($81.2bn), according to the Bloomberg Billionaires Index, though he still lags behind Amazon's Jeff Bezos ($141bn) and Microsoft's Bill Gates ($93bn).

As a result, Facebook stock did dip earlier this year-though not after CEO Mark Zuckerberg's congressional testimony regarding the company's data and privacy policies-leading some investors including billionaire hedge manager Jeffrey Gundlach, to proclaim the price a bubble.

Warren Buffett, chairman and CEO of Berkshire Hathaway, meanwhile, has a net worth of about $81.1 billion.

Investor and Berkshire Hathaway CEO Buffett, who used to be the richest person alive (and is now No. 4), has been slipping because of his massive charitable contributions.

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The world's largest social media network is facing scrutiny in Europe and the United States about allegations that London-based political consultancy Cambridge Analytica improperly accessed user information to build profiles on American voters that were later used to help elect US President Donald Trump in 2016. This is the first time that the top three wealthiest people in the world all made their fortunes in technology.

Facebook appears to have made it through its worst storm to date, though. 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 over $50 billion.

Zuckerberg has pledged to give away 99 percent of his Facebook stock away in his lifetime, his Bloomberg profile shows.

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