Mark Zuckerberg has grabbed the title of the world’s third-richest person, passing famed investor and Berkshire Hathaway CEO Warren Buffett.
Zuckerberg, the CEO and co-founder of Facebook, leapfrogged Buffett on the Bloomberg Billionaires Index after the social media company’s stock rallied 2.4% on Friday. Zuckerberg is worth an estimated $81.6 billion, about $373 million more than the 87-year-old Buffett.
Bloomberg said it’s the first time that the top three people on its wealth index come from the technology industry. Overall, the sector has contributed about one-fifth of the $5 billion in wealth tracked by the index, Bloomberg reported.
The only other individuals worth more than Zuckerberg are Amazon.com founder Jeff Bezos, the leader at roughly $141 billion, and Microsoft co-founder Bill Gates.
Buffett has fallen in the rankings partly due to his charitable donation of Berkshire shares. The “Oracle of Omaha” has donated about 290 million Class B shares, which are currently worth more than $50 billion, Bloomberg noted.