In what seems to be a validation of Mark Zuckerberg’s exponential growth, the Facebook boss has overtaken business magnate and Berkshire Hathaway Chairman Warren Buffett to become the world third-richest man, only behind Amazon founder Jeff Bezos and Microsoft Corporation founder Bill Gates. According to a report on the Bloomberg Billionaires Index, Facebook shares climbed 2.4 per cent on Friday.  

Zuckerberg, 34, is now believed to be worth $81.6 billion, according to the report and the margin is about $373 million more than Buffett, who is also known as the ‘Oracle of Omaha’. The report noted that this is the first time when the three wealthiest people on the list built their immense wealth in the field of technology.

The development did not come as a surprise, considering the growth of Facebook and its ancillary properties. Despite the recent disruption caused due to the Facebook-Cambridge Analytica controversy, the company has managed to steer clear of the initial storm. During the period, Facebook’s stock fell to an eight-month low of $152.22 on March 27.  However, on Friday, the stocks closed at a record price of $203.23, according to the report.  

It is worth mentioning here that technology companies or firms comprise a good margin of the $5 trillion in wealth tracked by the Bloomberg Index and is more than the margin of any other sector. The new development is not just a result of Zuckerberg’s wealth increasing but also due to Buffett’s wealth decreasing due to his acts of charity.