Mark Zuckerberg is now richer than Warren Buffett, as Facebook stock climbs and Buffet's holdings lose billions (FB)

Lisa Eadicicco

May 22, 2020 4:31 PM

Facebook CEO Mark Zuckerberg is now richer than Berkshire Hathaway's Warren Buffett and LVMH chairman Bernard Arnault, according to the Bloomberg Billionaires Index.

FILE PHOTO: Facebook's founder and CEO Mark Zuckerberg speaks at the Viva Tech start-up and technology summit in Paris, France, May 24, 2018. REUTERS/Charles Platiau

Amazon CEO Jeff Bezos and Microsoft co-founder Bill Gates currently sit at the top of the list.
Zuckerberg's climb comes after Facebook reported better than expected earnings in April and announced new ecommerce and video chat features.
Visit Business Insider's homepage for more stories .

Facebook CEO Mark Zuckerberg is climbing Bloomberg's Billionaire Index , passing billionaires like Berkshire Hathaway chairman Warren Buffett and LVMH Moet Hennessy Louis Vuitton chairman and CEO Bernard Arnault, an update to the list published on May 21 shows.

The list now estimates Zuckerberg's net worth to be at $87.8 billion, while Arnault is valued at $81.1 billion and Buffett is valued at $68.9 billion.

One year ago, those rankings looked a bit different. Zuckerberg was valued at $72.5 billion as of May 22, 2019, while Arnault was valued at $89.6 billion and Buffett was valued at $83.5 billion, Bloomberg's data shows.

Even a month ago, both Buffett and Arnault would have placed higher than Zuckerberg. The Facebook CEO's net worth as of April 20 was $68.1 billion, according to Bloomberg, while Buffett's was $74.3 billion and Arnault's was $80.2 billion.

Amazon CEO Jeff Bezos and Microsoft co-founder and philanthropist Bill Gates top the list at number one and number two respectively.

Zuckerberg's rise on the list comes after Facebook reported better-than-expected financials and surging users during its first-quarter earnings report on April 29. Facebook added as much as $44 billion in market value in the morning following its earnings report.

The company also recently made a big move into ecommerce by launching Shops , which enables businesses to create digital storefronts on Facebook. The social networking giant also launched a competitor to Zoom in April called Messenger Rooms, which lets users create 50-person chatrooms.

Zuckerberg still falls far behind Gates and Bezos on Bloomberg's list, but the gap isn't quite as large as it was almost one month ago when Bezos' net worth was estimated to be twice that of Zuckerberg's according to Bloomberg.

NOW WATCH: Pathologists debunk 13 coronavirus myths