After Facebook Stock Plunge, Mark Zuckerberg Worth Less Than Warren Buffett
Warren Buffett now has $ 20 billion less than Mark Zuckerberg
Facebook CEO Mark Zuckerberg last week surpassed Berkshire Hathaway chief Warren Buffett in wealth. The $ 20 billion difference in assets isn’t just a result of Facebook’s outperforming Berkshire, but it also suggests that Buffett has donated far more to charity than Zuckerberg..
Net equity Warren Buffett fell more than $ 20 billion this year to $ 69 billion, while wealth Mark Zuckerberg increased by about $ 11 billion to $ 89 billion, according to the Bloomberg Billionaires Index.
Their fortunes are closely tied to the stock prices of their respective companies: Buffett owns about 16% of Berkshire, and Zuckerberg owns 13% of Facebook.
A roughly 23% fall in Berkshire since January has hit Buffett’s net worth, while a 14% rise in Facebook has boosted Zuckerberg’s fortune over the same period..
However, the scale of their giving is another important factor. Buffett donated nearly $ 15 billion to charity between 2014 and 2018, far surpassing the $ 1 billion donated by Zuckerberg and his wife. Priscilla Chen, according to the list of America’s 25 largest philanthropists compiled by Forbes and SHOOK Research.
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Without these donations, the gap in their wealth would be minimal. Buffett would have it about $ 84 billion, while Zuckerberg would have about $ 90 billion..
It is worth noting that the gap in the amount of charitable aid they provide will be narrowed over time, as Buffett and Zuckerberg plan to give almost all of their money for this purpose..
«Over 99% of my wealth will go to charity during my life or after death», – promised Buffett as part of The Giving Pledge («Giving oath»). This is an initiative in which he came forward with Bill and Melinda Gates in 2006 to encourage billionaires to donate most of their proceeds to charity.
«We will give away 99% of our shares to Facebook – currently about $ 45 billion – over the course of our lives to advance this mission.», – Zuckerberg and Chan stated in an open letter to their newborn daughter in 2015. The couple signed The Giving Pledge five years earlier in 2010..