rediff.com

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News 
Rediff.com  » Business » Facebook worth $50 billion; Zuckerberg $14 billion

Facebook worth $50 billion; Zuckerberg $14 billion

January 04, 2011 14:24 IST

The personal fortune of Facebook founder Mark Zuckerberg has doubled to $14 billion after his social networking site got a huge cash injection from Goldman Sachs.

The New York Times reported that the banking giant pumped in $500 million in Facebook, with Russian investment firm Digital Sky Technologies investing in a further $50 million.

Zuckerberg, who owns a quarter of Facebook's shares, was immediately catapulted from 212 into the top 40 of Forbes' list of billionaires, reports the Daily Mail.

The 26-year-old social media tycoon is already one of the world's youngest billionaires.

Facebook is now valued at $50 billion, making it worth more than Yahoo! ,eBay and Time Warner.

Image: Facebook founder Mark Zuckerberg. Photograph: Reuters

Source: ANI