Posted on 09/22/2010 5:57:46 PM PDT by blam
Mark Zuckerberg Is Now Richer Than Steve Jobs!
Dan Frommer
Sep. 22, 2010, 7:00 PM | 1,397
Here's one we didn't see coming: Facebook CEO Mark Zuckerberg now has a higher net worth than Apple CEO Steve Jobs, according to Forbes.
Facebook's valuation has soared, while most of Jobs' wealth is tied up in Disney -- not Apple.
Forbes' Steven Bertoni explains:
This year, Zuckerberg, 26, added $4.9 billion to his fortune–vaulting to #35 on the Forbes 400 with an estimated fortune of $6.9 billion. Why the jump? Recent private equity investments in Facebook valued the firm at around $23 billion–more than triple its 2009 value of $7 billion. Illiquid private shares in secondary markets point to an even richer valuation.
Jobs has a net worth of $6.1 billion–$1 billion higher than 2009–placing him at # 42 in the list of America’s richest. Still, he couldn’t keep up with Tech’s new whiz kid.
Jobs may be the face of Apple (a company he founded in 1976–8 years before Zuckerberg was born), but the majority of his money comes from his stake in Disney.
More at Forbes >
[snip] .
(Excerpt) Read more at businessinsider.com ...
I’m starting ButtBook and will blow this impostor out of the water.
Apropos of nothing, I bet that guy gets a lot of play.
Facebook is another dot com bubble waiting to burst.
I’m not a fan of Facebook, but congrats to him.
He would draw some very motivated contestants on an eligible bachelor show!
Am I the only one who thinks Facebook is much ado about nothing?
I simply do not see how this thing is worth anywhere CLOSE to $23 Billion.
He is worth 1/2 of Boeings Total market capitalization!
Insanity.
My 89 year old grandmother and 60-ish parents are on facebook, and are able to use it. Kids are opting for FB over email. It ain’t going anywhere...
What exactly is the Facebook business model?
Where do their profits come from - advertisng, future membership fees?
Jobs was kicked off of the Apple board in the late ‘80’s in favor of Pepsi CEO John Scully. A lot of growth actually happened under Scully ... for a while. Then the replacements got worse and worse ... the Kraut Spindler ... the awful Amelio. In the meantime, Jobs learned from his experiences at NeXT and Pixar, but did not benefit financially from Apple’s growth in this period.
All of this is on a fictitious valuation. Unless Facebook goes public, this valuation is meaningless.
Think about it. It’s nothing. The people who participate on FB do all the work and can go anywhere. There is no “there” there.
Advertising and Apps.
It’s one giant Ad for crap and Farmville alone has to net big bucks. I’m sure that every Farm Dollar bought (and trust me, there are people who have “Visa” farms) FB gets a piece of.
"My 89 year old grandmother and 60-ish parents are on AOL, and are able to use it. Kids are opting for AOL over BBSs. It ain't going anywhere...
I have to disagree that it’s much ado about nothing.
Zuckerberg essentially networked the world. The genius lies in its simple interface and ease of use. I can stay in touch with friends and family across the globe. In so many ways it is better than email.
Epic communication and collaboration.
You make the initial connection with someone, then FB takes over. You can see ‘posts’ by them after that. You can also opt to not see posts by them. Multiply by several hundred ‘friends’. It’s very simple, but in many ways, it’s connecting people in a way that’s more intimate than email and chat (though it includes both). A simple design.
Now, how they make money from all that....I have no idea. They certainly have the audience though.
I agree. It’s a big waste of time. I know.
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