Zuckerberg may be the richest 20-something ever
The speed of wealth creation today -- along with the scale -- has never been greater.
With Facebook's (FB) huge run-up Thursday, Zuckerberg's wealth has shot up by more than $3 billion to $29.7 billion, according to Wealth-X. That's up from a net worth of $20 billion that he hit at Facebook's IPO in 2012.
And his net worth has nearly tripled since those dark days of Facebook's post-IPO depression, when Zuckerberg was down to his last $10 billion.
Sure there are plenty of people who are richer than Zuckerberg, including the Google (GOOG) guys, who are both worth more than $30 billion. And Bill Gates and Larry Ellison are still the overlords of tech wealth, with $75 billion and $42 billion respectively, according to Bloomberg's Billionaires Index.
But Zuckerberg may be the richest 29-year-old American ever -- even adjusted for inflation.
We don't know exactly what Gates was worth in 1984, when he was 29. But in March of 1986, when Microsoft (MSFT) went public, Gates' shares had a public value of around $234 million. Not bad for a 30-year-old. But in today's dollars, that would be around $500 million --not even enough to make the Forbes list. (Microsoft owns and publishes Top Stocks, an MSN Money site.)
Of course, after the Google IPO that same year, they soared well past $1 billion each.
As for Ellison, the first reports of his net worth started appearing in the late 1980s, when he was in his 40s and his net worth was put at around $400 million to $500 million.
Granted, there may be some inheritors throughout American history who may have -- on an inflation-adjusted basis -- been into the billions. But even John D. Rockefeller, Howard Hughes, the Astors and Waltons didn't have fortunes in their 20s equal to $29 billion today.
It proves once again that the speed of wealth creation today -- along with the scale -- has never been greater. Someday, perhaps another 20-something will even surpass Zuckerberg's record.
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The guy is a greedy putz, he screwed his own college friends.
Payback at some point is his karma. No integrity or honor.
You don't inform people;and you just go along and get along. Just wait till they unleash some plague; you will go along with that...
Good on anyone and everyone that can earn, employ and provide a service in life. Cursed are those who do not understand some are smarter than others, some have ideas far greater than any of the limited brainless who follow the class warfare agenda with relish. Given the wealth they would, due to a stunted mentality, end up broke in a very short time.
Hey Robert Frank, try reading a little history first, before making such a ridiculous statement.
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The solid report comes a month after the retailer closed all of its Canadian operations.
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