Date
27 March 2017
Mark Zuckerberg is all smiles and who wouldn't be if your net worth just hit US$50 billion? By the end of a tumultuous session in New York Tuesday, the 31-year-old Facebook founder had become the world's fourth richest man. Photo: Bloomberg
Mark Zuckerberg is all smiles and who wouldn't be if your net worth just hit US$50 billion? By the end of a tumultuous session in New York Tuesday, the 31-year-old Facebook founder had become the world's fourth richest man. Photo: Bloomberg

Zuckerberg tops Bezos as world’s fourth richest

Mark Zuckerberg is the world’s fourth richest man after Facebook shares fended off plunging stock markets.

By the end of a tumultuous session in New York Tuesday, the 31-year-old founder of the largest social network had a US$50 billion fortune, Bloomberg reports.

Zuckerberg vaulted past America Movil SAB’s Carlos Slim and Amazon.com Inc.’s Jeff Bezos on the Bloomberg Billionaires Index, a daily ranking of the world’s 400 richest people.

Even with a 0.4 percent loss for the day, Facebook is up 9.5 percent this year, defying gloom across global equity markets.

The Menlo Park, California-based company reported results last week that beat analyst estimates, propelling Facebook to the fourth most valuable company on the planet after Google parent Alphabet Inc., Apple Inc. and Microsoft Corp.

An 18 percent decline this year for Amazon has cut US$10.6 billion from Bezos’s fortune, leaving him with US$49.1 billion.

Bezos was the top-performing billionaire on the index in 2015, more than doubling his net worth.

Slim has lost US$3.3 billion this year as America Movil takes a hit from the economic crisis in Brazil, the source of 17 percent of its third-quarter sales.

Zuckerberg is the only billionaire among the world’s five richest people whose fortune has increased this year.

Half of the 10 wealthiest billionaires have made their fortunes in technology.

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