Business

Facebook Share Hitting $200, Zuckerberg Soon To Be Richest

ANANYA BHATNAGAR | 0
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| June 22 , 2018 , 18:52 IST

Mark Zuckerberg is poised to become the world’s third-richest person surpassing Warren Buffett

According to the Bloomberg Billionaires Index, Zuckerberg, who is more than 50 years younger to the Berkshire Hathaway Inc. chairman, Warren Buffett, is now worth $81.3 billion, gaining $8.5 billion this year. 

Facebook was stuck by a data-privacy crisis in the aftermath of Cambridge Analytica controversy that caused its stock to tumble 18 percent. Its rebound from a closing low of $152.22 on March 27 to a record $201.45 on Wednesday at the New York stock exchange narrowed the gap with Buffett to $725 million.

The recovery in Facebook shares has rewarded other prominent shareholders of the social media giant as well.

This includes Facebook's Chief Operating Officer Sheryl Sandberg, who’s now worth $1.8 billion, and Chief Technology Officer Michael Schroepfer, whose 0.05 percent holding is valued at $224 million.

Mark Zuckerberg who is just 34, is trailing behind Amazon founder Jeff Bezos who is the world’s richest person with a wealth of around $144.8 billion, and Microsoft co-founder Bill Gates who is at $92.8 billion.

The Bloomberg index ranks the world’s 500 richest people and is updated after the close of each trading day at New York Stock Exchange.