Despite the turmoil that Facebook has faced over this past year after the Cambridge Analytica scandal — Mark Zuckerberg’s net worth has grown tremendously and he is expected to replace Warren Buffet as the world’s third richest person, NBC reported.
Although Facebook’s stocks initially dropped 18% after its highly-publicized exploitation and mishandling of data, its stocks have recently soared due to Zuckerberg’s new long-form video initiative on Instagram, which is owned by Facebook, and after it announced that Instagram has surpassed over 1 billion monthly users.
Mark Zuckerberg is 34 years old, which makes him the youngest of the ten richest people in the world.
Despite being multiple decades younger than Warren Buffet, Zuckerberg’s net worth now amounts to $81.6 billion, which is equivalent to Buffet’s net worth according to Bloomberg’s Billionaires Index.
The narrow gap between their fortunes stems from both Facebook’s rising success and the massive funds that Buffet has personally donated to charity.
Tamar Skydell is an intern at the Forward.
This story "Zuckerberg Is About To Be Wealthier Than Warren Buffett" was written by Tamar Skydell.