Mark Zuckerberg is now richer than Warren Buffett, as Facebook stock climbs and Buffet's holdings lose billions
Mark Zuckerbergis now richer than Berkshire Hathaway's Warren Buffettand LVMHchairman 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.
Facebook CEO Mark Zuckerberg is climbing Bloomberg'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. Advertisement
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 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.
The company also recently made a big move into ecommerce 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.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 be twice that of Zuckerberg's according to Bloomberg.Read the original article on Business Insider