Facebook Makes World's Youngest Billionaire

Facebook Makes World's Youngest Billionaire

According to Forbes magazine in their annual super rich list, Facebook co-founder Mark Zuckerberg is the world’s youngest billionaire and is believed to be the youngest self-made billionaire of all time.
The estimate is based on CEO Zuckerberg’s 30% stake in his company that is valued at $5 billion conservatively (although Microsoft valued it at over $15 billion when they purchased their piece of the pie). This calculation puts Zuckerberg’s personal wealth at AU$1.6 billion – not too shabby for a site who some claim he stole the concept for whilst attending Harvard.

The other big news from the list is that it see’s Microsoft’s Bill Gates knocked from his 13 year run at the top, right down into 3rd position after 77 year old US financier Warren Buffett and Mexico’s telecom mogul Carlos Slim Helu.

In total, this year’s list sees 1125 people around the world making the billionaire’s list, up from 946 last year. Their total net worth stands at $4.4 trillion, up from $3.5 trillion in 2007.

For more information check out the article on NineMSN.

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