Mark Zuckerberg, founder of Facebook, has become the youngest billionaire in the world at age 23 according to a Forbes estimate. He is ranked 785 on the World’s Billionaires list.

Zuckerberg started Facebook in 2004 from his Harvard dorm room. He left the school to concentrate on building the site.

Zuckerberg got initial investment of $500,000 from PayPal co-founder Peter Thiel. And since then, the site has become a hot product.

Microsoft purchased a minority stake of 1.6 per cent from Facebook for $240 million last year and the deal made Facebook valued at more than $15 billion.

Then, Zuckerberg owned 27 per cent of the company according to reports, and with the company being valued so high, it means Zuckerberg owns about $5 billion in shares. Forbes and other investors however think the company’s value is lower. Forbes thinks the best estimate for Zuckerberg now is $1.5 billion.

Facebook currently has 66 million active users, and 55,000 networks and with estimated annual sales of $150 million.

In the Forbes list of billionaires Zuckerberg is ranked 785, Warren Buffett ranks number 1 and Bill Gates ranks number 3.

He is the youngest billionaire in this and the previous lists and “possibly the youngest self-made billionaire ever” according to Forbes.

Here is the full list of billionaires.

Rank Name Country Age Billions Country of Residence

1 Warren Buffett United States 77 62.0 United States

2 Carlos Slim Helu & family Mexico 68 60.0 Mexico

3 William Gates III United States 52 58.0 United States

4 Lakshmi Mittal India 57 45.0 United Kingdom

5 Mukesh Ambani India 50 43.0 India

6 Anil Ambani India 48 42.0 India

7 Ingvar Kamprad & family Sweden 81 31.0 Switzerland

8 KP Singh India 76 30.0 India

9 Oleg Deripaska Russia 40 28.0 Russia

10 Karl Albrecht Germany 88 27.0 Germany