Business_news Mark Zuckerberg is now richer than Warren Buffett, as Facebook stock climbs and Buffet’s holdings lose billions (FB)

Business_news

  • Facebook CEO Mark Zuckerberg is now richer than Berkshire Hathaway’s Warren Buffett and LVMH chairman Bernard Arnault, according to the Bloomberg Billionaires Index.
  • Amazon CEO Jeff Bezos and Microsoft co-founder Bill Gates currently sit at the top of the list.
  • Zuckerberg’s climb comes after Facebook reported better than expected earnings in April and announced new ecommerce and video chat features.
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Facebook CEO Mark Zuckerberg is climbingBloomberg’s Billionaire Index, passing billionaires like Berkshire Hathaway chairman Warren Buffett and LVMH Moet Hennessy — Louis Vuitton chairman and CEO Bernard Arnault, an update to the list published on May 21 shows. 

The list now estimates Zuckerberg’s net worth to be at $87.8 billion, while Arnault is valued at $81.1 billion and Buffett is valued at $68.9 billion.

One year ago, those rankings looked a bit different. Zuckerberg was valued at $72.5 billion as of May 22, 2019, while Arnault was valued at $89.6 billion and Buffett was valued at $83.5 billion, Bloomberg’s data shows. 

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 and Microsoft co-founder and philanthropist Bill Gates top the list at number one and number two respectively. 

Zuckerberg’s rise on the list comes after Facebook reported better-than-expected financials and surging users during itsfirst-quarter earnings reporton April 29. Facebook addedas much as $44 billionin market value in the morning following its earnings report.

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

Zuckerberg still falls far behind Gates and Bezos on Bloomberg’s list, but the gap isn’t quite as large as it was almost one month ago when Bezos’ net worth was estimated to betwice that of Zuckerberg’saccording to Bloomberg.

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