Zucker­berg tops Be­zos as world’s fourth rich­est

The Pak Banker - - COMPANIES/BOSS -

YORK: Mark Zucker­berg be­came the world's fourth-rich­est per­son to­day, as Face­book Inc. shares fended off plung­ing stock mar­kets. The 31year-old founder of the largest so­cial net­work had a $50 bil­lion for­tune by the close of reg­u­lar trad­ing in New York. That vaulted him above 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 de­cline for the day, Face­book is up 9.5 per­cent in 2016, 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 $10.6 bil­lion from Be­zos's for­tune, leav­ing him with $49.1 bil­lion. Be­zos was the top-per­form­ing bil­lion­aire on the in­dex in 2015, more than dou­bling his net worth. Slim has lost $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 on Earth have made their for­tunes in tech­nol­ogy.

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