Zuckerberg overtakes Buffett and Arnault on billionaire list

Saturday, 23 May 2020 17:59

By Danny Norton

Zuckerberg has seen his wealth rise significantly over the last year (istock/COM & O)

Facebook’s co-founder and CEO Mark Zuckerberg is now richer than Warren Buffett and Bernard Arnault.

That’s according to Bloomberg’s Billionaire Index, which estimates that the 36-year-old has a net worth of AED 322.5 billion.

Berkshire Hathaway chairman, Buffett, is said to be worth AED 253 billion, while the net worth of Arnault, chairman and CEO of LVMH Moet Hennessy - Louis Vuitton, stands at AED 298 billion.

It marks a significant increase for Zuckerberg compared to one year ago, when he was estimated to have a net worth of AED 266 billion, while Buffett and Arnualt have both seen their wealth drop, from AED 306 billion and AED 329 billion respectively.

Amazon CEO Jeff Bezos continues to top the list, followed by Microsoft co-founder and philanthropist Bill Gates.

More from Business

Disney settles suit over women's pay for $43 million

Walt Disney has agreed to pay $43.3 million to settle a lawsuit alleging that its female employees in California earned $150 million less than their male counterparts over an eight-year period, the plaintiffs' lawyers said in a statement on Monday.
Etihad Airways adds ten new destinations for 2025

UAE carrier Etihad Airways is set to introduce ten new destinations starting in 2025, expanding its global presence as it brings tens of thousands of new visitors to the capital.
Trump pledges new tariffs on Canada, Mexico, China

US President-elect Donald Trump on Monday pledged a 25 per cent tariff on all products from Mexico and Canada from his first day in office, and an additional 10 per cent tariff on goods from China, citing illegal immigration and the trade of illicit drugs.
UAE and Bahrain finalise ICV programmes procedures

The UAE and Bahrain have finalised the procedures required to implement an MoU, signed last January, that fosters cooperation between the National In-Country Value (ICV) Programme and Bahrain’s Value Programme in Industry, known as Takamul.