Mark Zuckerberg, co-founder and CEO of Facebook, is considered as the youngest person to be included in the list of the top 10 richest people in the world. Though he is much younger than Warren Buffett, world’s third-richest person and owner of Berkshire Hathaway, he still managed to close the gap between them.
Despite the controversy, Facebook experienced regarding the data privacy crisis earlier this year, they still managed to gain $8.8 Million in the same year. This was due to the announcement that Instagram, a photo-sharing application also owned by Facebook, reached 1 Billion Users. Followed by the release of the mobile app called IGTV. This as well strengthens the competition among video streaming platforms, one of which is YouTube.
Following this event, Zuckerberg gained a personal net worth of $81.6 Billion, making the gap between him and Buffett closer than ever. The gap between the two went down to $29 Million and if Zuckerberg’s achievements continue to pave its way in the industry there is a high possibility that the gap between them will narrow down even more.
There were two factors that caused such events to happen. One of which is due to the continued growth of Facebook and the huge amount Buffett personally donated to charity.