Zuckerberg knocked off tech rich list


Once the golden boy of technology, Facebook founder Mark Zuckerberg found himself in unfamiliar territory last week. The creator of the world’s most popular social network site, with close to a billion users, was knocked off the world’s Top 10 richest technology billionaires list – the Bloomberg Billionaires Index.

Facebook founder Mark Zuckerberg (image: Facebook)

Shares in Facebook fell by 4% to $20.04, which reduced Zuckerberg’s fortune by $423 million and placed the tech-preneur in 11th postion on the world’s Top 10 richest technology billionaires list with a net worth $10.2 billion.

Zuckerberg’s misfortune resulted in SAS Institute founder James Goodnight moving up to the 10th position – $400-million ahead of Zuckerberg.

“From an emotional standpoint, he might care. He’s much more worried about maintaining Facebook’s market share in the social media space than the day-to-day valuation swings of his company stock. He’s not worried about going broke,” Ron Florance, managing director of investment strategy for Wells Fargo Private Bank, told news service Bloomberg.

When Facebook started trading after their IPO filing, shares were valued at $38 a piece, but have, in the meantime, lost 47% of their value. At the moment Zuckerberg has 503.6 million shares in Facebook, 60 million options at 6 cents a share, and about $150 million in cash and assets.

According to Bloomberg, “Goodnight co-founded SAS in 1976, and is worth $10.6 billion. The company is the world’s largest closely held software maker and generated revenue of $2.7 billion in 2011, up 12 percent in a year.”

In terms of the complete Bloomberg Billionaires Index, Zuckerberg in nowhere near the bottom of the 40-person list. That position is being held by independent gas producer Leonid V. Mikhelson with a net value of $16.6-billion – $6.4-billion more than Zuckerberg.

The top 10 world’s richest people are:

1. Carlos Slim Helú

2. William “Bill” Henry Gates III

3. Warren E. Buffett

4. Amancio Ortega Gaona

5. Lawrence “Larry” Joseph Ellison

6. Ingvar Kamprad

7. Charles De Ganahl Koch

8. David Hamilton Koch

9. Christy R. Walton

10. Jim C. Walton

The entire Bloomberg Billionaire Index can be found here

Charlie Fripp – Consumer Tech editor