Mark Zuckerberg is now richer than Warren Buffett
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The Bloomberg Billionaires Index shows that Facebook co-founder Mark Zuckerberg has overtaken Warren Buffett to become the third richest person on the planet. The richest person as per the index is the world’s largest retailer Amazon’s CEO Jeff Bezos, followed by Microsoft co-founder Bill Gates.
This is the first time that the top three richest persons in the world are all global technology giants.
Jeff Bezos’ net worth is $142 billion. Bill Gates’ worth is at $94.2 billion, whereas Mark Zuckerberg net worth is 81.6 billion.
The chairman and largest shareholder of Berkshire Hathaway Warren Buffett has a net worth of $81.2 billion. He occupies the fourth place in the list.
The fifth richest person in the world is Amancio Ortega, worth $76.1 billion. He is the ower of 59 per cent of Inditex. Which is the world’s largest clothing retailer. . They have 7,400 stores and had a revenue of 25.3 billion euros, roughly equal to $29 billion last year.
India’s richest person remains Mukesh Ambani, occupying the 18th place in the index. India’s top business tycoon, Ambani is worth $39.6 billion.
The growing technology in the world is dictating the business order. Technology’s reach is a major factor behind the rising fortunes of these giants.
Bezos has been criticised in the past for not being as committed to philanthropy as some of his fellow billionaires atop the “world’s richest” rankings. In the month of June, The founder of Amazon teased plans for new charitable giving efforts that he says he’ll reveal this by end of the summer.
In 2018 Buffett’s net worth has decreased by over $4 billion.
Buffett donated roughly 290 million shares of his holding company, Berkshire Hathaway, to charity over the past decade or so. This may be the reason he declined so much money according to Bloombeg.