Facebook Chief Executive Mark Zuckerberg, whose estimated worth is $13.5 billion, reportedly buys his first home -- a $7 million mansion in Palo Alto, California.
The LA Times reported the Facebook co-founder, who clocked in at No. 52 on the 2011 Forbes list of the world's richest people, bought a five bedroom, 5,600-square-foot house with a saltwater pool in Palo Alto, California.
PALO ALTO, CALIFORNIA, UNITED STATES (MAY 6, 2011) NBC - Facebook Chief Executive Mark Zuckerberg, whose estimated worth is $13.5 billion, has bought his first home -- a $7 million mansion -- media reported on Friday (May 6).
The 26-year-old co-founded Facebook at Harvard University in 2004. The social networking site rocketed from an online directory for college students to the world's No. 1 social network, quickly surpassing its predecessor Friendster and dominating its rival MySpace in popularity.
Facebook has about 600 million users and is a threat to more established big Web businesses such as Google and Yahoo for users' time and advertising dollars.
The private Silicon Valley company recently rounded up $1.5 billion in financing led by Goldman Sachs and Milner's Russian investment firm Digital Sky Technologies, suggesting it could be worth $50 billion and setting off a feeding frenzy among investors.