Mark Zuckerberg tops Buffett to become world's third-richest man

08 July, 2018, 14:27 | Author: Regina Silva
  • Mark Zuckerberg

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.

The standings mean that this is the first time the world's three richest people all made their fortunes in technology.

Just a few months ago, Facebook shares hit an eight-month low in the midst of the Cambridge Analytica scandal, which revolved around over 87 million Facebook users being affected by a data breach.

According to the Bloomberg index around 20 per cent of the wealth which belongs to the world's 500 richest people, equivalent to $5 trillion, is made through technology. The ranking, which tracks the world's 500 richest people, is updated after the close of each trading day in NY.

Dele, Maguire head England into first semi-final in 28 years
It was a sign of what was to come - direct balls, long throws, pressing - but those basic tactics didn't trouble England . He said: "I am in a bubble - I have to admit it has been a remarkable rise".


Rescue postponed for soccer kids trapped in cave
Journalists on the scene report that "the trend toward an imminent rescue attempt continues", news.com.au reports. Professional cave divers from Europe are making the risky dives with a contingent of Thai navy SEALs.


Steph Curry And His Wife Ayesha Welcome Third Child, A Son
Canon is the latest addition to the NBA's cutest family and he couldn't have arrived at a more opportune date. Jack Curry 7/2/2018", she wrote along with a photo of their other children holding the baby.


Buffett, once the world's wealthiest person, is sliding in the ranking thanks to his charitable giving, which he kicked off in earnest in 2006.

Buffett has donated about 290 million of his shares in Berkshire Hathaway to charities - an equivalent of about $50 billion.

Zuckerberg's net worth passed Buffett's on Friday after Facebook shares went up 2.4%. The "Oracle of Omaha" has donated about 290 million Class B shares, which are now worth more than $50 billion, Bloomberg noted.

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

Recommended:



Popular

North Korea vents anger after U.S. talks
The outcome of the latest US-North Korean talks on denuclearization was clearly a matter of perspective. They accused Washington of pushing for "unilateral and gangster-like demand for denuclearization".

UFC 226: Daniel Cormier ends Stipe Miocic's reign with a knockout
Miocic forced a clinch and sloppily pulled out of it moving towards his left , running straight into Cormier's huge right hand. Cormier has been a clean fighter for his entire career and he has truly dominated his competition throughout his career.

USA tariffs on Chinese imports take effect
The Trump administration contends that China has deployed predatory tactics in a push to overtake USA technological dominance. But the thing is some say the trade war started this morning, and in a war, it's not always calm or controllable or rational.

Hispanic Unemployment Drops to Historic Low
They expect the manufacturing sector to bear the brunt of the trade fights, through a slowdown in hiring and capital expenditure. But with a record 6.7 million unfilled jobs in April, economists are confident that wage growth will accelerate later this year.

Boston commuters haul a train off woman's leg
Police confirmed that while no bones had been broken, the deep laceration was so severe the unidentified woman would need surgery. But when Emergency Medical Technicians arrived, the woman gave in and agreed to ride in their ambulance to get medical treatment.

Brazil elimination 'saddest moment of my career', says Neymar
A stingy Brazil team has only conceded once in the tournament and Lukaku said it is hard to find weaknesses. "It is special. We can't let them down back home now". "Weakness in Brazil? Not really", he said .

UFC 226 odds roundup: Cormier an underdog facing Miocic in Las Vegas
Someone asked me earlier 'What's your approach to fighting Stipe?' and it's going to be the exact same thing. The UFC has branded their UFC 226 clash "The Superfight" - and Cormier says that label is fully justified.

USA service member killed in apparent insider attack in Afghanistan
Officials said the incident is being investigated, and no further details were immediately available. In that incident, a Romanian NATO soldier was injured.

England fans react to goals in Sweden win
The finer details of the game concerned are well documented by now, but Ibrahimovic looks to be holding up his side. He is likely to retain his starting place for the semifinals.

Croatia Are Through To The Semi-Finals After A Penalty Shootout
Just moments later and the visitors had a corner and then a goal as defender Domagoj Vida headed home from the set piece. Russia's Igor Akinfeev during extra time .