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Monday 3 January 2011

Facebook valuation doubles to $50 billion

Facebook has raised another $500 million from Goldman Sachs and Russian investor Digital Sky Technologies, at a valuation for Facebook of $50 billion, the New York Times reports. That makes Facebook CEO Mark Zuckerberg worth more than twice the $6.9 billion Forbes said he was worth in September 2010 –when Facebook was valued at $23 billion.

It probably won’t change Zuckerberg’s low-key lifestyle, but the jump in net worth will, as the New York Times noted, put  Zuckerberg closer to the ranks of Google founders Sergey Brin and Larry Page, both worth $15 billion as of Forbes’ Sept. 2010 ranking of the 400 Richest Americans.

The latest fundraising will also boost the billionaire fortunes of two other Facebook co-founders, Dustin Moskovitz (worth $1.8 billion on the 2010 Forbes 400) and Eduardo Saverin (worth $1.15 billion on the 2010 Forbes 400). Moskovitz left Facebook in 2008 to start another company, Asana; Saverin helped Zuckerberg found Facebook but stayed on to graduate from Harvard while Zuckerberg and Moskovitz dropped out.

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