Facebook CEO Mark Zuckerberg overtakes Warren Buffett as world's third richest person

Facebook CEO Mark Zuckerberg becomes the world's third wealthiest person passing Warren Buffett

Facebook founder Mark Zuckerberg has leapfrogged legendary investor Warren Buffett to become the third-richest person on earth, according to Bloomberg's Billionaires Index.

Facebook stock closed at an all-time high of Friday, ending the day at $203.23 up 2.41% on a rally that shows that investors love the social network more than ever.

Zuckerberg becoming the 3rd richest in the world right now means that, for the first time, the 3 richest people alive are all tech titans.

Amazon's Jeff Bezos still takes the top spot with a net worth of $139.6bn, while Microsoft's Bill Gates comes in second at a value of $92.3bn. Zuckerberg is worth an estimated $81.6 billion, about $373 million more than the 87-year-old Buffett.

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Amazon CEO Jeff Bezos and Microsoft co-founder Bill Gates are still ahead of Zuckerberg, with net worths of $139.6 billion and $92.3 billion respectively.

According to the Bloomberg index around 20 per cent of the wealth which belongs to the world's 500 richest people, equivalent to $5 trillion, is made through technology.

Buffett, who once ranked as the world's wealthiest person, has now slid down to number four, largely in part to his charitable giving. The record stock price comes after a bumpy year for the social network, in which scandals surrounding political elections worldwide-including 2016's USA presidential election-left many doubting the clout of one of tech's largest giants. Zuckerberg has pledged to give away 99% of his Facebook stock in his lifetime.

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