Social media tycoons rule Forbes richest 400 list

Top Social media tycoons top the Forbes list of America’s richest 400 citizens this year. But all the more thrilling is the fact that amongst those who have made it to the list, six billionaires are associated with a single networking giant, the Facebook.

In the Forbes latest 400 list of richest Americans, released yesterday, Mark Zuckerberg has grabbed a position amongst the top 20 to remain at No.14. In its yearly ranking, Forbes has maintained that Zuckerberg’s net worth climbed the most to gain $10.6 billion and sum up at $17.5 billion this year.

Dustin Moskovitz, Faebook’s co-founder and Zuckerberg’s former roomie, has become the youngest billionaire at the age of 27 and owns $3.5 billion.

Other social networking giants who are first timers in the list include LinkedIn’s Reid Hoffman with $1.5 billion, Groupon’s Eric Lefkofsky with $1.5 billion and Zynga’s Mark Pincus with the net worth of $2 billion.

Google co-founders Sergey Brin and Larry Page have earned the same No. 15 rank after declaring their net worth of $16.7 billion each.

Overall net worth rose 12 percent this year
The overall wealth of the richest 400 Americans was counted $1.5 trillion, which is 12 percent higher than the previous year. Forbes calculated the combined net worth in 2010 to be 1.37 trillion which slipped from $1.57 trillion in 2008.

Since 18 consecutive years, the first rank in Forbes 400 list is dominated by Microsoft founder Bill Gates, owning a fortune worth $59 billion, which is $5 billion more from previous year.

Warren Buffet who recently made news by publicly demanding tax hikes for wealthy people ranked second in the list, though with a hugest loss of $6 billion last year.

Amongst the investment giants, Hedge fund manager George Soros made it to the top 10 list for the first time with the wealth of $22 billion.