Wealth-X Finds Combined Net Worth of Social Media Tycoons Near $100 Billion

SINGAPORE, Sept. 8, 2011 /PRNewswire/ -- The fortunes of social media entrepreneurs including the founder of Facebook, Mark Zuckerberg; the brains behind Zynga, Mark Pincus; and the man who introduced Twitter, Jack Dorsey, are at an all-time high, according to a study on 30 of the world's richest social media entrepreneurs by Wealth-X, the world's leading wealth intelligence firm. Wealth-X estimates the global social media industry is currently worth a staggering $USD 215 billion.

As Facebook's valuation soars, LinkedIn, Groupon and Zynga had successful public offerings, and Internet giant Google entered the social media space with Google+, the pockets of these entrepreneurs are getting deeper. Wealth-X estimates the most recognizable American social media entrepreneurs – including Zuckerberg, Pincus, Dorsey, Reid Hoffman and Andrew Mason – have a combined net worth of more than $22 billion. Globally, social media platforms line the bank accounts of their creators too. Nearly half of the individuals on Wealth-X's list of 30 Wealthiest Global Social Media Entrepreneurs reside outside of the U.S., with nine entrepreneurs from China alone. Collectively, these social media tycoons living beyond U.S. borders are worth $33 billion. Robin Yanhong Li and Ma Huateng of Chinese social media leaders, Baidu and Tencent respectively, have a combined net worth of more than $14 billion.

China's Burgeoning Social Media Industry

With over 450 million users, China is the world's biggest Internet market. Its users are online considerably more than those from other developing countries and experience usage patterns on par with those found in the U.S. and Japan. From micro blogging, to gaming and sharing videos, the popularity of China's social media industry has created real wealth in the hands of their owners.

"China appears to be one of the most fertile grounds, outside of the United States, for social media entrepreneurship," said co-founder and CEO of Wealth-X, Mykolas Rambus. "It is conventional wisdom that Silicon Valley is the place to look for the next hot investment in an up-and-coming social networking upstart, but there is a growing market in China for these businesses as well. This is leading to new wealth creation for young technology entrepreneurs."

Head of Global Valuations at Wealth-X, David Lincoln, stated China's thriving social networking industry is likely tied to other reasons besides China's restriction of Facebook. "When China banned Facebook, the accepted logic was that it was for security," Lincoln said, "but it's important to understand that there are unique conditions in place. With no Facebook to compete with, China has created a void that domestic companies – like Tencent, Renren and Sina – have been more than happy to fill. Leaders of these Chinese social media firms are likely to get much richer in 2011 as this sector remains hot. They're giving their American counterparts a run for their money."

However, China is still behind the U.S. in terms of overall social networking market share. Wealth-X estimates the entire social media industry in China to be worth at least $USD 48 billion, just over a fifth of the estimated value of the global social media industry.

For more information, please visit: www.wealthx.com

About Wealth-X

Wealth-X provides its members with qualified prospects and intelligence on ultra high net worth (UHNW) individuals, along with the privately held-companies they control. We work with 7 of the top 10 global private banks, leading educational institutions, not-for-profits and luxury brands. Our firm's online business development solution profiles individuals who represent US$ 10.7 trillion of the world's net wealth. The Wealth-X database additionally offers exclusive details on ultra wealthy individuals, including their wealth, income, passions, philanthropic interests, affiliations, politics, advisors, families and biographies. Wealth-X is the global leader on UHNW individuals and the worldwide standard for professionals working with the ultra affluent.

SOURCE Wealth-X

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