Mark Zuckerberg's fortune soars to almost $50bn

Mark Zuckerberg's fortune soars to almost $50bn

The Facebook founder's wealth is four times higher than the second-richest person in America aged under 40


More than 1 billion people now use Facebook every day


Mark Zuckerberg is now worth a record $47.1bn (£31bn), more than four times richer than the second-richest person in the US under the age of 40.
The Facebook founder took top place on Forbes magazine’s list of the 40 most successful young entrepreneurs in the US after another record year for the social networking website.
More than 1 billion people now use Facebook each day, viewing videos more than 8 billion times daily. A shift to mobile advertising in recent years caused the social network’s revenues to soar to
$4.5bn in the third quarter of 2015, a 41pc rise on the same period of 2014.
WhatsApp deal with Facebook gives co-founders happy end to journey of hardship and poverty
Eight people on the list can trace their wealth back to Facebook including Jan Koum (right), the founder of Whatsapp, which was sold to Facebook last year  Photo: Eyevine
Facebook's shares hit a record $109 earlier this month, a jump of 39pc since the start of the year, and the company now has a market capitalisation of $297.3bn.
Zuckerberg, who founded Facebook in 2004 after dropping out of Harvard University, is estimated to own around 30pc of the now publicly-listed company.
Eight of the wealthiest entrepreneurs on Forbes’ list can trace their wealth back to Facebook, including the three richest and the group’s youngest.
• America's richest tech billionaires aged under 40
In second place is Facebook co-founder Dustin Moskovitz, who left in 2008 to start another software company but still owns Facebook shares worth billions of dollars.
In third place is 39-year-old Jan Koum, a Ukrainian refugee who moved to the US aged 16. In 2009, he founded Whatsapp, a messaging service that quickly became popular across the world and was bought by Facebook last year for $22bn. Koum’s wealth is estimated to be $8.8bn, said Forbes.

America's top 10 richest people aged under 40:

  1. Mark Zuckerberg, Facebook, $47.1bn
  2. Dustin Moskovitz, Facebook, $9.7bn
  3. Jan Koum, Whatsapp, $8.8bn
  4. Garrett Camp, Uber, $6bn
  5. Travis Kalanick, Uber, $6bn
  6. Elizabeth Holmes, Theranos, $4.5bn
  7. Nathan Blecharczyk, Airbnb, $3.3bn
  8. Brian Chesky, Airbnb, $3.3bn
  9. Joe Gebbia, Airbnb, $3.3bn
  10. Sean Parker, Facebook, $2.5bn
The youngest person on Forbes’ list is Palmer Luckey. He was just 21 years old when he sold Oculus, his virtual reality equipment company, to Facebook for $2.3bn last summer.
"California techies dominate our first ever list of the nation’s most successful young entrepreneurs, reaffirming the American Dream and proving yet again that there is no better way right now to get rich fast than to go west and convince venture investors to back your most ambitious ideas," said Luisa Kroll of Forbes.
Tiger Woods targets Masters warm-up after confirming Achilles injury is only a mild strain
Tiger Woods, worth $700m, was one of the few non-tech entrepreneurs on the list  Photo: REUTERS
Within the top 40, almost all of the entrants made their money in the tech sector, with 33 based in California.
Golf pro Tiger Woods was among the very few who built their fortunes outside Silicon Valley. The 39-year-old has collated a personal fortune of $700m, mostly through sponsorships and other deals with companies including Nike.
CULLED FROM TELEGRAPH