According to Forbes.com, Facebook’s Mark Zuckerberg is now richer than the founders of Google. Earlier this week, publicly-traded closed-end mutual fund GSV Capital bought 225,000 shares of Facebook at an average price of $29.28 per share for a total valuation of $70 billion.
This purchase, according to Forbes, pushes Zuckerberg’s fortune past $18 billion. Estimates prior to the transaction were around $13.5 billion. Zuckerberg has now passed Apple’s Steve Jobs and Google co-founders Sergey Brin and Larry Page, and is solidified as the third richest tech titan in the world behind Microsoft’s legendary Bill Gates and Oracle’s Larry Ellison.
Forbes’ Luisa Kroll questions whether the Facebook valuation is sustainable or “a bubble about to burst.” Some argue that Facebook’s membership is aging and the site is generally losing its cool, others predict that the company will go public next year with a valuation of over $100 billion.
Regardless, the expanding success of the innovative social network continues to push Zuckerberg up the list of the World’s Richest People.
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July 1, 2011Banzai Burger Grand Opening
