How technology has built young billionaires

A mobile phone user flip through Apps. Technology has driven many young people into innovation. PHOTO BY RACHEL MABALA.

What you need to know:

Technology has, in the last five years, given the world new billionaires. Jonathan Adengo looked through Forbes richest list and compiled the following.

The future of the world seems to be swinging in a new direction driving much fortune towards the young generation.
The new era seems to have awakened a sleeping giant that had for years lied low among the youth.
In the last decade a number of youth have hit the billionaires’ club with the most remarkable being Mark Zuckerberg, the brain behind social media site – Facebook.
At least, according to Forbes, more young folks have worked their way to the world’s richest list through technology.

Twelve out of the 17 young lords, who are below 40, earned their riches through technology, accounting for nearly a third of all newcomers on the Forbes 400 richest list.
Top of the list is Facebook’s Zuckerberg, 31, with a net worth estimated at Shs147.4 trillion ($40.3b).
Facebook is a listed American social media giant with more than a billion users across the globe, according to figures registered in August.
Also in the pack are two other Facebook founders including Dustin Moskovitz, 31, and Sean Parker, 35, who have since left the company.

Moskovitz, who helped launch the Facebook from a Harvard dormitory, founded software firm Asana in 2008. He’s worth ShsShs30.7 trillion ($8.4b). Whereas Parker, who famously created Napster before becoming Facebook’s first president, has directed his focus towards philanthropy. His fortune is worth ShsShs9.15 trillion ($2.5b).

Facebook co-founder Mark Elliot Zuckerberg


The list continues to build on the technology front ushering in Snapchat, Evan Spiegel, 25, the founder of photo-messaging app.
At Shs7.68 trillion ($2.1b) he becomes the world’s youngest billionaire followed by 27-year-old Bobby Murphy who has a net worth of Shs6.48 trillion ($1.8b).
Also in the pack is Jan Koum, 39, who at his arrival in America from Ukraine swept floors, before embarking on the journey to found messaging app – WhatsApp.

Changing technology
According to Forbes, another man capitalising on the changing ways to communicate is Jan Koum, 39. Koum, whose mother babysat to make ends meet, has also capitalised on new technology to build a Shs28.1 trillion ($7.7b) fortune company, driven by WhatsApp, which has more than 900 million users.

Joining the list are Airbnb founders Nathan Blecharczyk, Brian Chesky and Joe Gebbia. All three make their Forbes 400 debut with Shs12 trillion ($3.3b) each.
The apartment rental website, which started when Gebbia and Chesky rented out their air mattresses to out-of-town conference goers in 2007, raised Shs5.49 trillion ($1.5b) in a financing round in June.
The company is now valued at over Shs91.5 trillion ($25b) - making it worth more than long-established lodgers like Hilton, Marriott or Starwood.

Top on the young rich
With an investment fortune of Shs147.4 trillion ($40.3b), Zuckerberg is the richest man under 40 years. He founded Facebook, which as of August had more than a billion users. Zuckerberg’s Facebook is a listed company.