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Facebook is about to pass Buffett’s Berkshire Hathaway in market cap

Mark Zuckerberg zoomed past Warren Buffett on Thursday.

Mark Zuckerberg may soon be looking at Warren Buffett in the rearview mirror.

Zuckerberg’s tech behemoth, Facebook Inc. FB, +1.33% is threatening to whiz by Buffett’s Berkshire Hathaway Inc. BRK.B, +0.28% leaping ahead of the market capitalization of the Sage of Omaha’s investment conglomerate.

Facebook added about $10 billion to its market cap Thursday before retreating from its best levels, touching a valuation of about $362 billion after the social network late Wednesday reported stellar second-quarter earnings underpinned by its growing mobile-advertising business. Giddy investors briefly pushed Facebook’s shares past Berkshire’s Class B shares on Thursday, which touted a total valuation of $355 billion, according to FactSet data.

That’s not too shabby for a tech company that was founded a mere 12 years ago and has only been public since 2012. To put things in perspective...