This article titled “Billionaires’ club: Mark Zuckerberg becomes sixth-richest person on Earth” was written by Ellen Brait in New York, for theguardian.com on Friday 29th January 2016 16.53 UTC
Facebook CEO Mark Zuckerberg is now the sixth-richest person on Earth and the fourth-richest person in US, his net worth surpassing that of the politically influential Koch brothers, according to the Bloomberg Billionaires Index.
Facebook reported a quarter of record revenue, with sales up 52% and net income more than doubling since last year. Zuckerberg’s wealth rose by $6bn on Thursday, taking his net worth to $47.5bn.
Charles and David Koch, who run the privately held company Koch Industries and are known for their financial support of Republican candidates, are each worth $45.9bn.
Out of the 100 richest people, Zuckerberg is one of only seven billionaires to see an increase in their net worth this year, according to Bloomberg’s daily ranking of the world’s richest 400 people.
The 31-year-old social media CEO is still placed behind five other billionaires: Microsoft founder Bill Gates ($78bn), Spanish fashion businessman Amancio Ortega ($69.7bn), American businessman Warren Buffett ($59.4bn), Amazon CEO Jeff Bezos ($55.8bn) and Mexican business magnate Carlos Slim ($48.6bn). But together, the five billionaires have lost $19bn this month, due to the global stock slide.
Last month, with the birth of his first child, Zuckerberg promised to donate most of his fortune to the Chan Zuckerberg Initiative, a company set up by himself and his wife, Priscilla Chan. The initiative will lobby for political change, fund philanthropic causes and invest in companies.
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