Zuckerberg jumps ahead of Buffett to become third-richest person alive

Facebook's stock price closed at an all-time high of Friday ending the day at $203

Facebook's stock price closed at an all-time high of Friday ending the day at $203. JOSH EDELSON AFP Getty Images

Facebook CEO Mark Zuckerberg overtook the legendary investor and Berkshire Hathaway CEO Warren Buffett to become the world's 3rd richest person as per the net worth calculated by Bloomberg.

It's the first time that the three wealthiest people on the ranking made their fortunes from technology.

Zuckerberg's ascent to No. 3 underscores a sharp climb in Facebook shares since late March, when they was reeling following reports of a data-handling scandal with political consultant Cambridge Analytica. Since then, the tech giant has made a remarkable recovery, with its shares closing at an all-time high of $203.23 on Friday.

Zuckerberg is now worth $81.6 billion, almost $400 million more than Buffett, chairman of the Berkshire Hathaway investment group, rankings show. Overall, the sector has contributed about one-fifth of the $5 billion in wealth tracked by the index, Bloomberg reported. The ranking, which tracks the world's 500 richest people, is updated after the close of each trading day in NY.

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Buffett, who once ranked as the world's wealthiest person, has now slid down to number four, largely in part to his charitable giving. He's donated about 290 million Berkshire Hathaway Class B shares to charities, most of it to Gates's foundation.

The Facebook CEO's net worth as calculated by Bloomberg is $81.6 billion after the company's stock spiked 15 percent this year despite being embroiled in a data breach scandal.

Zuckerberg has pledged to give away 99 percent of his Facebook stock away in his lifetime, his Bloomberg profile shows.

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