Mark Zuckerberg becomes third richest man


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Facebook’s co-founder Mark Zuckerberg has now become the world’s third richest person. Zuckerberg has taken overWarren Buffett’s net worth, currently sitting at 81.5 billion, which is 373 mllion more than Buffett, the 87 year old chairman and executive officer of Berkshire Hathaway Inc.

Everyone’s heard of the recent security scandal at Facebook, where it was revealed what data Facebook collected from its users, and what it did to it. Most expected Facebook would experience a plummet after this, possibly even one it’d never fully recover from. However, judging by the rapid growth of its stocks, this is not what happened.

Currently, in front of Zuckerberg are Amazon’s Jeff Bezos and the owner of Microsoft, Bill Gates. This makes it the first time in history that the top three richest people in the world are all tech giants. Some thing this could be the pointer towards a new era, where the ‘best’ area to invest in is tech by far.

Tech entrepreneur make up about a fifth of the more than $5 trillion in wealth tracked by the Bloomberg index, more than any other sector. The ranking, which tracks the world’s 500 richest people, is updated after the close of each trading day in New York.

According to the Bloomberg Billionaires index, Zuckerberg’s wealth exploded swiftly, after Facebook’s recent privacy scandal, the stock dropped to $157.2 but later soared up to 204 dollars per share.

However, unlike Mark, Buffet’s riches dropped rather than rise. They plummeted 4 billion dollars in the last year. This is mostly due to his charitable giving, second only to Gates’ who has so far donated a whopping total of 50 billion dollars. The founder of Amazon, Jeff Bezos has been criticized for not donating enough, and is supposed to reveal his plans this summer.

That’s not to say Zuckerberg doesn’t have new philanthropic plans of grand proportions. The 34 year old Billionaire has pledged to donate 99% of his Facebook stock.

Nearly 97 percent of Zuckerberg’s wealth, or about $79 billion, comes from his Facebook stock, according to Bloomberg, while he also has nearly $2.5 billion in cash. Zuckerberg also owns roughly $175 million in real estate assets, including a $9 million home in Palo Alto, California, and land in Hawaii that’s estimated to be worth $100 million.

Earlier on May 14, Mark Zuckerberg turned 34 years old. In 2008 he became the world’s youngest billionaire, at age 23, and was ranked 785 on the world’s billionaires list. Having been approached by several companies with job offers(even AOL and Microsoft) before graduating high school, Zuckerberg turned them all down to attend Harvard, out of which he later dropped out of to devote all his time to facebook.

In 2011 he became the most followed user on Google+, surpassing even its co founders Larry Page and Sergey Brin.

Even after Facebook’s data privacy scandal, it was not the end of troubles. Past Zuckerberg’s talks at congress, and updating Facebook’s policy, there was  anew bug on the social network. So if you’re wondering why your ex of 5 years is suddenly messaging you, the new Facebook bug, affecting 800 000 users temporarily unblocked people off users’ accounts.

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