Home Business Facebook’s Mark Zuckerberg now richer than Warren Buffett

Facebook’s Mark Zuckerberg now richer than Warren Buffett

by Michael Mureithi
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Facebook CEO Mark Zuckerberg has climbed to third place in Bloomberg’s Billionaire Index , passing billionaires Berkshire Hathaway chairman Warren Buffett and LVMH Moet Hennessy Louis Vuitton chairman and CEO Bernard Arnault.

In an update to the list published on May 21, Zuckerberg’s net worth rose to $87.8 billion, while Arnault is valued at $81.1 billion and Buffett is valued at $68.9 billion.

As at May 22, 2019,  Zuckerberg was valued at $72.5 billion, while Arnault was valued at $89.6 billion and Buffettt $83.5 billion.

According to Business Insider, even a month ago, both Buffett and Arnault would have placed higher than Zuckerberg.

The Facebook CEO’s net worth as of April 20 was $68.1 billion, according to Bloomberg, while Buffett’s was $74.3 billion and Arnault’s was $80.2 billion.

Amazon CEO Jeff Bezos is still the richest man, with his wealth valued at $147 billion, while Microsoft co-founder and philanthropist Bill Gates is second with his wealth estimated at $108 billion.

This is even after Bezos paid out $38 billion in divorce settlement.

“Zuckerberg’s rise on the list comes after Facebook reported better-than-expected financials and surging users during its first-quarter earnings report on April 29. Facebook added as much as $44 billion in market value in the morning following its earnings report,” Business Insider noted.

The company also recently made a big move into e-commerce by launching Shops , which enables businesses to create digital storefronts on Facebook. The social networking giant also launched a competitor to Zoom in April called Messenger Rooms, which lets users create 50-person chatrooms.

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