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California Is Home To More Than One Third Of The World's Richest Tech Billionaires

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Kate Vinton ,  
FORBES STAFF 
I track the world’s wealthiest people  
Mark Zuckerberg is the richest billionaire in California. (Photo by Justin Sullivan/Getty Images)
California has a new richest tech billionaire this year. With a net worth of $54 billion, Facebook FB -0.15% founder and CEO Mark Zuckerberghas the Golden State’s biggest tech fortune, surpassing Oracle ORCL -0.02%founder and chairman Larry Ellison, who held the title last year. Zuckerberg and Ellison are two of 37 billionaires on FORBES’ second annual Richest In Tech list who live in California. These tech titans make up one third of the world’s top 100 tech fortunes and have a combined net worth of $332.4 billion.
The ten richest billionaires in California (click to enlarge)
The ten richest billionaires in California (click to enlarge)
Zuckerberg’s rise to the top has been fueled by Facebook’s skyrocketing stock price, which has risen 30% in the past year, adding $12.8 billion to Zuckerberg’s fortune. In December 2015, Zuckerberg pledged to give away 99% of his Facebook stock over his lifetime. In June 2016, Facebook shareholders voted to create another class of Facebook shares without voting rights, which would allow Zuckerberg to keep his promise while retaining control of his social media giant.

Oracle founder Larry Ellison is now the second richest tech billionaire in California with a net worth estimated at $51.7 billion. His fortune has risen slightly since this list was published last year, after recovering from a $10.7 billion drop when he appeared on FORBES’ 2016 Billionaires List in March, due to a drop in Oracle stock at the beginning of the year. Ellison stepped down from the CEO role at Oracle in 2014 but is still involved at his software giant as Chairman and Chief Technology Officer. In July 2016, Oracle announced that it was buying cloud company NetSuite, which is 41% owned by Ellison, for $9.3 billion in cash; if approved, the deal is not expected to significantly change Ellison’s net worth.
Source: Forbes

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