@AfricaNews

Mark Zuckerberg now world’s third richest, surpasses Buffet | Africanews

1 weeks ago, 12:29

By: Michael Ike Dibie

Facebook Inc. co-founded, Mark Zuckerberg has overtaken Warren Buffett as the world’s third richest person further solidifying technology as the most robust creator of wealth.

According to the Bloomberg Billionaires Index, Zuckerberg, who trails only Amazon.com Inc. founder Jeff Bezos and Microsoft Corp. co-founder Bill Gates, surpassed Buffett on Friday as Facebook shares climbed 2.4 percent.

It’s the first time that the three wealthiest people on the ranking made their fortunes from technology. Zuckerberg, 34, is now worth $81.6 billion, about $373 million more than Buffett, the 87-year-old chairman and chief executive officer of Berkshire Hathaway Inc.

Zuckerberg’s ascent has been driven by investors’ continued embrace of Facebook, the social-network giant that shook off the fallout from a data-privacy crisis that hammered its shares, sending them to an eight-month low of $152.22 on March 27. The stock closed Friday at a record $203.23.

Technology fortunes make up about a fifth of the more than $5 trillion in wealth tracked by the Bloomberg index, more than any other sector. The ranking, which tracks the world’s 500 richest people, is updated after the close of each trading day in New York.

Buffett, once world’s wealthiest person, is sliding in the ranking thanks to his charitable giving, which he kicked off in earnest in 2006.


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Category: africa africa_business business news topnews

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@AfricaNews

Mark Zuckerberg now world’s third richest, surpasses Buffet | Africanews

1 weeks ago, 12:29

By: Michael Ike Dibie

Facebook Inc. co-founded, Mark Zuckerberg has overtaken Warren Buffett as the world’s third richest person further solidifying technology as the most robust creator of wealth.

According to the Bloomberg Billionaires Index, Zuckerberg, who trails only Amazon.com Inc. founder Jeff Bezos and Microsoft Corp. co-founder Bill Gates, surpassed Buffett on Friday as Facebook shares climbed 2.4 percent.

It’s the first time that the three wealthiest people on the ranking made their fortunes from technology. Zuckerberg, 34, is now worth $81.6 billion, about $373 million more than Buffett, the 87-year-old chairman and chief executive officer of Berkshire Hathaway Inc.

Zuckerberg’s ascent has been driven by investors’ continued embrace of Facebook, the social-network giant that shook off the fallout from a data-privacy crisis that hammered its shares, sending them to an eight-month low of $152.22 on March 27. The stock closed Friday at a record $203.23.

Technology fortunes make up about a fifth of the more than $5 trillion in wealth tracked by the Bloomberg index, more than any other sector. The ranking, which tracks the world’s 500 richest people, is updated after the close of each trading day in New York.

Buffett, once world’s wealthiest person, is sliding in the ranking thanks to his charitable giving, which he kicked off in earnest in 2006.


Read More

Category: africa africa_business business news topnews

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2 hours ago, 17:29
@AfricaNews - By: Daniel Mumbere
Uganda removes taxes on 'depositing and sending' mobile money | Africanews

Following a cabinet meeting held on Monday, the information and ICT minister, Frank Tumwebaze told journalists that government had responded to calls from the public to make the tax 'fair'. ...

Category: africa topnews news
5 hours ago, 14:27
@BBCAfrica - By: Bbc
Obama to deliver Mandela lecture

The US' first black president will give the annual speech which this year marks 100 years Mandela's birth. ...

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Africa's richest man Dangote signs $650m loan for oil refinery project | Africanews

Dangote is building the world’s largest single oil refinery and also expanding into fertiliser, aiming to address long-standing problems in Nigeria’s energy markets. ...

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Egypt's citizenship for sale to foreigners at $400,000 | Africanews

Egypt has been looking to boost its finances and draw back foreign investment that fled the country after its 2011 uprising, notably through a series of tough reforms tied to a $12 billion IMF loan pr ...

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Six highlights of Africanews coverage of 2018 World Cup in Russia | Africanews

Africanews had dedicated coverage of the World Cup in Russia, profiling the five African representatives; Egypt, Morocco, Nigeria, Senegal and Tunisia. With a dedicated page on the website and a speci ...

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7 hours ago, 13:12
@AfricaNews - By: Africanews
U.S. warns African nations against Chinese debt, offers 'sustainable' alternative | Africanews

Unveiled in 2013, President Xi Jinping’s “Belt and Road” initiative aims to build an infrastructure network connecting China by land and sea to Southeast Asia, Central Asia, the Middle East, Eur ...

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