Mark Zuckerberg beats Warren Buffett to become third-richest in world

Facebook CEO Mark Zuckerberg emerged as the world's third-richest person after beating Warren Buffett.

Zuckerberg now falls behind Amazon.com's founder Jeff Bezos and Microsoft's co-founder Bill Gates.

The social media company rose to the ranking after its shares climbed to 2.4 per cent, a report stated.

The 34-year-old CEO is now worth $81.6 billion, about $373 million more than Buffett.

Facebook's shares went down to an eight-month low of $152.22 on March 27 after it was hit by a data-privacy crisis.

For the first time, the three wealthiest people in the world have made their fortunes from technology.

According to a media report, the decline in the ranking of Buffett who was once the world’s wealthiest person can be traced to his charitable giving.

He has donated about 290 million Berkshire Hathaway Class B shares to charities, most of it to Gates’s foundation. The shares now account for over $50 billion.