Forbes publishes list of Tech Billionaires in the World In 2016

YEREVAN, AUGUST 11, ARMENPRESS. Despite a tumultuous year for the stock market, it was a good time to be atech billionaire, The titans on FORBES’ second annual list of the world’s100 Richest In Techundefined are worth a combined $892 billion, 6% more than a year ago. The minimum net worth is now $2.2 billion, up from $2 billion a year ago. Fifty-three of the top 100 added to their fortunes, while 27 got poorer. Twelve newcomers joined the ranks, and the top five billionaires collectively added $36.9 billion to their fortunes over the past year, accounting for two-thirds of all gains, Forbes reports.

Just over half of the 100 Richest In Tech are from the United States, including eight of the top 10 richest on the list. Together, these 51 American tech founders and investors, the same number as on last year’s list, account for nearly two-thirds of the group’s total wealth. Thirty-seven of them live in California. China has the second highest number oftechtycoons, with 19 people worth a combined $132.7 billion, just one fewer than last year. The richest Chinese list member isAlibaba founderJack Ma, who has an estimated net worth of $25.8 billion. He is closely followed by Tencent founder and CEOMa Huateng(known as Pony Ma), worth an estimated $22 billion. Canada has five tech billionaires and Germany has four.

With a $78 billion estimated fortune,MicrosoftfounderBill Gatesis once again the richest billionaire intech as well as the richest person in the world–a position he’s held for over two decades. Since stepping down from his role as chairman ofMicrosoftin early 2014, Gates has continued to sell shares as he focuses on philanthropy through the Bill &Melinda GatesFoundation. His stake inMicrosofttoday only accounts for approximately 15% of his net worth.

The second richest person intechis also the biggest gainer on the list this year. Amazon founder and CEOJeff Bezos, has an estimated $66.2 billion fortune, an increase of $18.4 billion since this list was released last year. That puts him ahead of Oracle chairman Larry Ellison, who was the second richest person in tech last year. Amazon stock has risen just over 40% in the past year, largely on the success of Amazon Web Services, which has made Amazon profitable for five straight quarters.

Ellison was also beaten by Facebookfounder and CEOMark Zuckerberg, who climbed from fourth to third place thanks to a 30% jump in the value of Facebook’s stock; he is now also California’s richest person, another title that previously belonged to Ellison. He’s not the only one getting rich from Facebook. In fact the social networkhas created moretechfortunes than any other company on this list. Nine of the 100 richest people in technology can trace some or all of their fortunes back toFacebook, includingFacebook cofoundersDustin Moskovitzand Eduardo Saverin,early employeeJeff Rothschild, Facebook investorsYuri MilnerandPeter Thiel, and WhatsApp cofoundersJan KoumandBrian Acton, who became billionaires whenFacebookbought their messaging app for $18 billion in 2014. In the past year, this group of Facebook billionaires added $16.1 billion to their fortunes, not including Jeff Rothschild, who appeared on the Richest In Tech list for the first time this year with a net worth of $2.2 billion.

Only five women rank among the world’s 100 richest intech. Two of these women, both from Hong Kong, made their fortunes through smartphone touch screen manufacturing, including the world’s richest femaletechfounder,Zhou Qunfei. She became a billionaire in 2015 afterLens Technology’sIPO, and has a net worth of $6.4 billion. America’s richest self-made woman intechis health care software firmEpicSystems founder and CEOJudy Faulkner, who has a net worth of $2.7 billion. The only other American woman on the list isHewlett-PackardEnterprise CEOMeg Whitman, who has a net worth of $2.2 billion.