forbes-400

A Tech Idol's Comedown

Ryan Tate · 10/02/09 04:02PM

Remember how brightly Peter Thiel's star was shining just last year? The PayPal co-founder's early Facebook investment started looking brilliant, his hedge fund returns were stellar and he debuted on the Forbes 400 list. My, how things change.

Breaking: America's Rich Not Quite as Rich As They Used to Be

cityfile · 10/01/09 08:04AM

Forbes' annual list of the richest Americans, the Forbes 400, was released today. The bad news? It was a pretty rough year for the super-rich, not surprisingly, with the collective net worth of Forbes 400 members falling $300 billion over the past 12 months. The good news, at least for those poor people who have had to deal with the indignity of only being worth in the high nine figures: You don't need to be a billionaire to make the cut this year. A mere $950 million will suffice. [Forbes, NYDN]

Zuckerberg's paper wealth puts him ahead of backer Peter Thiel on Forbes list

Nicholas Carlson · 09/18/08 10:40AM

Forbes is out with its annual list of the 400 Richest Americans again and thanks to Microsoft, Facebook CEO Mark Zuckerberg is on it at number 321 with an estimated net worth of $1.5 billion. What's kind of ridiculous is that according to the list, Zuckerberg has more money than his original backer, founder of the Clarium Capital hedge fund and PayPal, Peter Thiel.Zuckerberg lives in an unfurnished one bedroom apartment and Facebook, which Zuckerberg doesn't even entirely own, will earn revenues of only $300 million this year. Meanwhile, Thiel — who rents a mansion, not an apartment — runs a $5.5 billion hedge fund, which though it lost $1 billion in August is still up 27 percent so far this year and is on target for its usual annual return of over 30 percent. Sure, given Facebook's popularity among the normals, Zuckerberg could someday possess much more actual wealth than Thiel. But that'll only happen if Zuckerberg's continues to obey Thiel's infamous command — "don't blow it" — an outcome key Zuckerberg hires have made far from certain.