Saturday 21 April 2018

Facebook's Zuckerberg moves closer to becoming world's richest person

New departure for Mark Zuckerberg's Facebook in publishing
New departure for Mark Zuckerberg's Facebook in publishing
Ingvar Kamprad, founder of IKEA
Bill Gates

Andrew Trotman

Mark Zuckerberg has moved a step closer to becoming the richest person on the planet.

The Facebook founder has moved up to ninth place in Bloomberg's billionaire list, overtaking Ikea founder Ingvar Kamprad.

Mr Zuckerberg, 31, has a fortune of $43.1bn, a rise of $8.6bn in the year so far.

Facebook's shares hit a record high of $98.39 on Tuesday as analysts prepare for what they believe will be bumper results next week.

The social network's second-quarter figures are expected to show a booming video advertising business, as well as strong growth at Instagram, Facebook's picture sharing website.

The shares have risen 25pc so far this year and more than 160pc from their flotation price in 2012. Facebook now has a market capitalisation of $275bn.

Meanwhile, 89-year-old Mr Kampard has seen his wealth drop by $2.8bn in 2015, to stand at $42.2bn.

Ikea revealed in January that global profits had flatlined at €3.3bn, with income in the UK falling by 10.5pc.

Mr Zuckerberg is now just $300m behind Larry Ellison in Bloomberg's list. The Oracle founder is worth $43.4bn. Amazon founder Jeff Bezos is in seventh place with $43.5bn.

However, Mr Zuckerberg is still far behind the richest person in the world. Microsoft founder Bill Gates has a fortune estimated at $85.2bn.

He is followed by Inditex owner Amancio Ortega with $70.8bn and investor Warren Buffett with $67.6bn.

The highest-placed female in Bloomberg's list is Christy Walton. The widow of John T Walton, the second son of Wal-Mart founder Sam Walton, has a fortune of $36.8bn.

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