We present a study of the fiber bundle model using equal load sharing dynamics where the breaking thresholds of the fibers are drawn randomly from a power law distribution of the form p(b) ∼ b −1 in the range 10 −β to 10 β . Tuning the value of β continuously over a wide range, the critical behavior of the fiber bundle has been studied both analytically as well as numerically. Our results are: (i) The critical load σc(β, N ) for the bundle of size N approaches its asymptotic value σc(β) as σc(β, N ) = σc(β)+AN −1/ν(β) where σc(β) has been obtained analytically as σc(β) = 10 β /(2βe ln 10) for β ≥ βu = 1/(2 ln 10), and for β < βu the weakest fiber failure leads to the catastrophic breakdown of the entire fiber bundle, similar to brittle materials, leading to σc(β) = 10 −β ; (ii) the fraction of broken fibers right before the complete breakdown of the bundle has the form 1 − 1/(2β ln 10); (iii) the distribution D(∆) of the avalanches of size ∆ follows a power law D(∆) ∼ ∆ −ξ with ξ = 5/2 for ∆ ≫ ∆c(β) and ξ = 3/2 for ∆ ≪ ∆c(β), where the crossover avalanche size ∆c(β) = 2/(1−e10 −2β ) 2 .