Facebook CEO is youngest self-made billionaire accoding to Forbes

[keone]

Billionaires are getting younger. Forbes magazine released its list of the world's mega-rich Wednesday and said Facebook CEO Mark Zuckerberg, 23, became the youngest ever self-made billionaire.

Zuckerberg, born during the Ronald Reagan presidency, is worth $1.5 billion four years after launching the social-networking site and the third-youngest to crack the billionaire list since Forbes began tracking ages a decade ago. The other two inherited their money. Facebook did not respond to requests for comment.

LIST: Warren Buffett dethrones Bill Gates as richest man

The Forbes list often reflects the times. Bill Gates was once himself like Zuckerberg and dropped out of Harvard to launch a technology upstart. Gates is now 52 and slipped from first place in the rankings after being the richest person in the world for 13 straight years. In 1995, Gates replaced Yoshiaki Tsutsumi, a Japanese real estate investor who subsequently fell on hard times and was removed from the Forbes list in 2007.

Gates is worth $58 billion, $2 billion more than last year, but he is now third on the list. He was dislodged by Warren Buffett ($62 billion) and Mexican tycoon Carlos Slim Helu ($60 billion). Buffett's Berkshire Hathaway stock climbed $10 billion; Slim's fortune rose $11 billion.

Buffett is 77 and Slim is 68, but there are now 50 billionaires younger than 40, and 34 of them are self-made. The average age of all billionaires has dropped to 61 from 64 in 2004, partly because of the growth of young, self-made Russian and Chinese billionaires. Mainland China's richest person is 26-year-old real estate heiress Yang Huiyan (No. 125), worth $7.4 billion.

Forbes says that billionaires sometimes slip beneath its radar, but it now counts 1,125 worldwide, worth $4.4 trillion. That's an increase of 179 billionaires from a year ago. Two-thirds of the 1,125 are self-made.

Of the 1,125 billionaires, 469 (42%) are from the USA. But the average U.S. billionaire is worth $3.4 billion vs. $4.3 billion for the average foreign billionaire. The biggest gainer over the last year is 48-year-old Indian businessman Anil Ambani. His wealth jumped $24 billion, or nearly $3 million an hour.

There have been two billionaires who made the Forbes list at a younger age than Zuckerberg. One was Albert II, prince of Thurn and Taxis, who is a German heir of postmasters dating to the Holy Roman Empire. He inherited his wealth at age 7, when his father died in 1990, although he did not gain access to his fortune until he turned 18.

The other was Hind Hariri, youngest of the Lebanese heirs of a banking, real estate, oil and telecommunications fortune that she inherited at 22.

 

[onyomonkeyass]

quick question....if facebook has no membership fee, how do you get paid so much off of it to become a billionaire? by the way i have never been to that site, and i don't know much about internet business... any explanation would be appreciated.

http://answers.yahoo.com/question/index?qid=20070510221824AACpH7e

 

[Hotlantan]

Facebook has celebrated its fifth birthday with 150 million guests but no clear path to profitability.

Chief executive Mark Zuckerberg, who co-founded the social networking website with two Harvard University roommates five years ago, marked the occasion in low-key fashion with a blog post urging members to send a virtual gift to their online friends.

"In the spirit of celebrating connections between people, we encourage you to use this gift to give thanks to your friends, colleagues and family members with whom you are connected on Facebook," he wrote.

Zuckerberg, 24, said he was "humbled" by the phenomenal growth of a website which began as a way for his fellow Harvard students to stay connected and has blossomed into a worldwide network that has dwarfed rival MySpace.

"Facebook was founded in 2004 to give people the tools to engage and understand the world around them," he said. "We are glad and humbled that so many people are using Facebook in this way."

Zuckerberg, who has a personal worth of 1.5 billion dollars according to Forbes magazine, launched Facebook from his Harvard dorm room on February 4, 2004 with roommates Dustin Moscovitz and Chris Hughes.

It quickly spread to other schools around the country and eventually anyone aged 13 or older with an Internet connection was allowed to create a Facebook profile and post photos or update their friends on their status.

With the astronomical growth has also come controversy. Facebook has been accused of violating privacy, facilitating online sexual predators and hate groups and simply being a colossal waste of time.

It has also been touted as a force for good, serving as bridge between people and even as a tool to counter terrorism and repressive governments.

Both Moscovitz and Hughes have since left the company -- Moscovitz last year to set up an Internet technology firm and Hughes to join the online campaign of then-Democratic presidential candidate Barack Obama.

Full story:
http://www.france24.com/en/20090205-facebook-turns-five

 

[~WS~]

quick question....if facebook has no membership fee, how do you get paid so much off of it to become a billionaire? by the way i have never been to that site, and i don't know much about internet business... any explanation would be appreciated.

Advertising

 

[Exceptionalrarity]

They Say My Generation Is Lazy. We prove people wrong daily.

 

[Exceptionalrarity]

wow....i never really pay attention to internet ad's. maybe subliminally i am influenced, but i can't call it. i had no idea that there was " that much" money in internet advertising. i knew you could get paid, but never thought you could potentially become a billionaire.

YOUR INFLUENCED MORE THAN YOU KNOW. COME INTO THE YEAR 2009.

 

[blkentserv]

I admire the Facebook team for their accomplishments and hard work, however the real question is where are all the black-owned and operated Myspace,Google,Facbook,Twitter,Yahoo,and Amazon portals?

 

[ljinsane]

wow....i never really pay attention to internet ad's. maybe subliminally i am influenced, but i can't call it. i had no idea that there was " that much" money in internet advertising. i knew you could get paid, but never thought you could potentially become a billionaire.

are you serious...damn you dont watch the news nigga...how you thing them dudes that started google got paid?.....Mark Cuban owner of the dallas maveriks made his doe the same way...and I know you follow B-ball...come on nigga ...there is more to life than BGOL , hoes ,clothes and bank rolls.....

 

[ljinsane]

I admire the Facebook team for their accomplishments and hard work, however the real question is where are all the black-owned and operated Myspace,Google,Facbook,Twitter,Yahoo,and Amazon portals?

quiet as kept I'm trying to get something going

 

[Rossini]

I admire the Facebook team for their accomplishments and hard work, however the real question is where are all the black-owned and operated Myspace,Google,Facbook,Twitter,Yahoo,and Amazon portals?

Except it aint free

 

[8SD8-retired_member]

I admire the Facebook team for their accomplishments and hard work, however the real question is where are all the black-owned and operated Myspace,Google,Facbook,Twitter,Yahoo,and Amazon portals?

That's the question I've been asking for awhile.

Most of us think too small. To be frank, most Black people look at me weirdly when I say I want to be a billionaire. They know I'm dead serious, because I am not a dude to talk just to talk...

...but, I guess their just aren't a lot of us that are committed to excelling at extremely high levels.

 

[Rossini]

That's the question I've been asking for awhile.

Most of us think too small. To be frank, most Black people look at me weirdly when I say I want to be a billionaire. They know I'm dead serious, because I am not a dude to talk just to talk...

...but, I guess their just aren't a lot of us that are committed to excelling at extremely high levels.

Most of them rich crackas had a head start on us, they make it seem like that facebook dude was poor, nah his folks had paper, it aint hard to make a billi when you already got milli's. Us black folks gotta start from scratch.

 

[Rawness]

Full story:
http://www.france24.com/en/20090205-facebook-turns-five

Advertising

I just don't see how they could've made a billion + off of advertising. Correct me if i'm wrong, but the Facebook founders got paid off of investors who see its potential . The article above seems to support this notion but if anyone knows different enlighten me.

That's the question I've been asking for awhile.

Most of us think too small. To be frank, most Black people look at me weirdly when I say I want to be a billionaire. They know I'm dead serious, because I am not a dude to talk just to talk...

...but, I guess their just aren't a lot of us that are committed to excelling at extremely high levels.

We had/have black planet (though I don't know who owned and operated it). Fact is tha a Black Facebook won't work. If all it offers is the same stuff as facebook but is just for black people, few would use it.

 

[8SD8-retired_member]

Most of them rich crackas had a head start on us, they make it seem like that facebook dude was poor, nah his folks had paper, it aint hard to make a billi when you already got milli's. Us black folks gotta start from scratch.

It's not that I don't agree with you, but I think that mind-set hold a lot of us back, too.

I don't give a damn about what some dude's parents had. You can start from nothing, and end up with a great deal. Not everyone super-wealthy had that family backing...

Besides, not every Black family in the world is poor or low-income. What's stopping the Black folk who grew up with a lot, from doing what these people have done?

I have distant cousins who were definitely very well-off, and they're not shooting for the very top like these people are.

 

[Exceptionalrarity]

Most of them rich crackas had a head start on us, they make it seem like that facebook dude was poor, nah his folks had paper, it aint hard to make a billi when you already got milli's. Us black folks gotta start from scratch.

SPEAK FOR YOURSELF SON. YOU AND THESE LAME ASS EXCUSES. NOT ALL OF US ARE POOR AND FROM THE GHETTO. NOT ALL OF US CRY FOR OUR DADDIES AT 30. SPEAK FOR YOUR SORRY AND YOUR ASS CHILDHOOD. NO MORE EXCUSES STOP THAT HEAD START TRACK RACE BULLSHIT.


IF YOUR BLACK AND YOU HAVE MONEY YOUR UPPITY. TO THE MAJORITY HAVING MONEY IS NORMAL. WHY ARE WE USE TO BEING POOR?

 

[Jedah]

Is worth the same as having all that money?

 

[8SD8-retired_member]

I just don't see how they could've made a billion + off of advertising. Correct me if i'm wrong, but the Facebook founders got paid off of investors who see its potential . The article above seems to support this notion but if anyone knows different enlighten me.



We had/have black planet (though I don't know who owned and operated it). Fact is tha a Black Facebook won't work. If all it offers is the same stuff as facebook but is just for black people, few would use it.

It doesn't have to be geared towards Black people, just Black owned/created. We can create something for ALL races, as well.

 

[Rawness]

Besides, not every Black family in the world is poor or low-income. What's stopping the Black folk who grew up with a lot, from doing what these people have done?

Ok, I think I misunderstood you the first time. I'm looking for it now, but a while back a saw a top millionaires under 30, and I believe there were a couple black folks on there....I could, of course, be mis-remembering it.

 

[Rossini]

It's not that I don't agree with you, but I think that mind-set hold a lot of us back, too.

I don't give a damn about what some dude's parents had. You can start from nothing, and end up with a great deal. Not everyone super-wealthy had that family backing...

Besides, not every Black family in the world is poor or low-income. What's stopping the Black folk who grew up with a lot, from doing what these people have done?

I have distant cousins who were definitely very well-off, and they're not shooting for the very top like these people are.

I aint sayin we cant get millions, its just gon be hard to get a billion. 95% of billionaires came from wealthy families. Take Bin-Ladin for example, he inherited 200 million and flipped that bitch to Billions. Legally, i dont think its possible to go from nothin to a Billionaire, millionaire yeah... but not billions.

 

[8SD8-retired_member]

Another thing people need to stop thinking is that a certain level of wealth is unnecessary or excessive. Perhaps ONE person may not need a certain amount of money for a life-time...

...but what about future generations? Why can't we give our children, and their children a head-start?

People always limit wealth to themselves, and claim they don't need that much. That's very short-sighted, and selfish, to be honest.

Their are a lot of people in the world that could benefit from you or I becoming a billionaire.

 

[Exceptionalrarity]

I admire the Facebook team for their accomplishments and hard work, however the real question is where are all the black-owned and operated Myspace,Google,Facbook,Twitter,Yahoo,and Amazon portals?

YOUR THINKING SMALL MONEY NO'S NO COLOR. BLACK PEOPLE ARE A SMALL PERCENT OF THE POPULATION. IF YOU MAKE YOUR PRODUCT TO TARGET EVERYONE AND ITS' QUALITY YOU WOULD BRING IN MORE MONEY.

 

[Rossini]

SPEAK FOR YOURSELF SON. YOU AND THESE LAME ASS EXCUSES. NOT ALL OF US ARE POOR AND FROM THE GHETTO. NOT ALL OF US CRY FOR OUR DADDIES AT 30. SPEAK FOR YOUR SORRY AND YOUR ASS CHILDHOOD. NO MORE EXCUSES STOP THAT HEAD START TRACK RACE BULLSHIT.


IF YOUR BLACK AND YOU HAVE MONEY YOUR UPPITY. TO THE MAJORITY HAVING MONEY IS NORMAL. WHY ARE WE USE TO BEING POOR?

HNIC please ban this clown again.

 

[Spectrum]

I just don't see how they could've made a billion + off of advertising. Correct me if i'm wrong, but the Facebook founders got paid off of investors who see its potential . The article above seems to support this notion but if anyot.

They've not EARNED one red cent. Facebook has revenues of about 250 million dollars but they have an operating LOSS for the year. The company is 'valued' at billions based on the valuation given by private investors and VCs for a stake in the company. But in terms of operating profits, facebook has not made in money and actually is losing millions per quarter to deal with its growth.

 

[8SD8-retired_member]

I aint sayin we cant get millions, its just gon be hard to get a billion. 95% of billionaires came from wealthy families. Take Bin-Ladin for example, he inherited 200 million and flipped that bitch to Billions. Legally, i dont think its possible to go from nothin to a Billionaire, millionaire yeah... but not billions.

Hard doesn't equal impossible.

Sure, everyone won't be millionaires or billionaires, but many things are unattainable, because we think they are.

It does not benefit me at all to deem something impossible. If I fail, I fail. However, I'll get a lot farther by not limiting my thinking.

 

[blkentserv]

I just don't see how they could've made a billion + off of advertising. Correct me if i'm wrong, but the Facebook founders got paid off of investors who see its potential . The article above seems to support this notion but if anyone knows different enlighten me.



We had/have black planet (though I don't know who owned and operated it). Fact is tha a Black Facebook won't work. If all it offers is the same stuff as facebook but is just for black people, few would use it.

First of all all the company's mentioned in this thread were based on a global community which is the entire premise of the world wide web, so it is very counterproductive to limit yourself to a certain demographic.

This is the same mindset that allows koren's to continue to control the "black hair care" market and utimately caused the downfall of Blackplanet. You have to think on a global basis to reach the level of a world renowned web portal.

 

[8SD8-retired_member]

First of all all the company's mentioned in this thread were based on a global community which is the entire premise of the world wide web, so it is very counterproductive to limit yourself to a certain demographic.

This is the same mindset that allows koren's to continue to control the "black hair care" market and utimately caused the downfall of Blackplanet. You have to think on a global basis to reach the level of a world reknown web portal.

Co-fucking-sign.

We have to stop thinking of just Black people when it comes to who we market to. Now, what you do with your PROFITS is another story...

 

[Exceptionalrarity]

I aint sayin we cant get millions, its just gon be hard to get a billion. 95% of billionaires came from wealthy families. Take Bin-Ladin for example, he inherited 200 million and flipped that bitch to Billions. Legally, i dont think its possible to go from nothin to a Billionaire, millionaire yeah... but not billions.

OPRAH DID IT, BOB JOHNSON DID IT, TIGER DID IT AND ALSO, REGINALD F. LEWIS CREATED A BILLION DOLLAR EMPIRE. DO YOUR RESEARCH.

LEGALLY YOUR WRONG. YOU DON'T KNOW A DAMN THING.

 

[Rawness]

They've not EARNED one red cent. Facebook has revenues of about 250 million dollars but they have an operating LOSS for the year. The company is 'valued' at billions based on the valuation given by private investors and VCs for a stake in the company. But in terms of operating profits, facebook has not made in money and actually is losing millions per quarter to deal with its growth.

That's what I thought.

First of all all the company's mentioned in this thread were based on a global community which is the entire premise of the world wide web, so it is very counterproductive to limit yourself to a certain demographic.

This is the same mindset that allows koren's to continue to control the "black hair care" market and utimately caused the downfall of Blackplanet. You have to think on a global basis to reach the level of a world reknown web portal.

I misread what was posted, I thought someone was suggesting starting a facebook for black people.

 

[ljinsane]

i don't understand what you are saying..... you said all of this because i mentioned i never really pay much attention to internet ads?

you focused on the wrong part of your quote:

i had no idea that there was " that much" money in internet advertising. i knew you could get paid, but never thought you could potentially become a billionaire.

get it now?...the point is IMO you need to pay more attention to what is going on in the world


Peace

 

[Hotlantan]

First of all all the company's mentioned in this thread were based on a global community which is the entire premise of the world wide web, so it is very counterproductive to limit yourself to a certain demographic.

This is the same mindset that allows koren's to continue to control the "black hair care" market and utimately caused the downfall of Blackplanet. You have to think on a global basis to reach the level of a world renowned web portal.

Yes, but too many Black people would rather buy from the White Man because they think White Man's ice is colder.

 

[ansatsusha_gouki]

YOUR THINKING SMALL MONEY NO'S NO COLOR. BLACK PEOPLE ARE A SMALL PERCENT OF THE POPULATION. IF YOU MAKE YOUR PRODUCT TO TARGET EVERYONE AND ITS' QUALITY YOU WOULD BRING IN MORE MONEY.

c/s

 

[ljinsane]

First of all all the company's mentioned in this thread were based on a global community which is the entire premise of the world wide web, so it is very counterproductive to limit yourself to a certain demographic.

This is the same mindset that allows koren's to continue to control the "black hair care" market and utimately caused the downfall of Blackplanet. You have to think on a global basis to reach the level of a world renowned web portal.

 

[Exceptionalrarity]

We Can Tell Marketing Has Not Been Taught In Schools. Understanding Your Target Market, And Their Needs Is Key. Money No's No Color. I Swear Some Of These Kats Will Cut Their Nose To Spite Their Faces. They Are So Caught Up In Da White Man This And That. Kats Scream About Getting Real Money. The Guy Of My Generation Said Damn Color He Went Global.



Kats Are Still In Their Small Minded Box. We Live In A Global World Not A Black World, Nor White World. Being Global Is Key.

 

[Gazoo]

We gotta get off our asses.

 

[Exceptionalrarity]

Hell Kats Talk About Jay Z 50 Cent Dr. Dre. 50 And His Formula 50, Jay And His Clothing/40 40 Clubs And His Other Ventures. Dr. Dre His Beats And His New Heads He Showed At Ces.

They Spread Their Products To Every Demographic Not Just Brothas. They Generated More Money This Way.



Get Your Head Outta Of Your Asses And Focus. Its' Never Too Late To Get Started.