This article could be out of date, as it was published 1 year 11 months 20 days ago.

Latest estimates have suggested Facebook founder Mark Zuckerberg is now the third-richest technology tycoon in the world, with a net worth of US$18 billion.

The valuation places Zuckerberg ahead of big players such as Google founders Sergey Bin and Larry Page at $17 billion, and Apple’s Steve Jobs at a paltry $8.3 billion.

Microsoft founder Bill Gates is still at the top at $56 billion, with Oracle’s Larry Ellison in second at $39.5 billion.

However, at just 27 Zuckerberg still has a long way to go. Facebook’s star continues to rise, the social networking site being re-valued at $70 billion compared with $50 billion in January as a result of investment from GSV capital. 

Commentators have suggested it won’t be long before the company goes public, a move which could see Zuckerberg’s fortune climb even more.

Signs are certainly not good for Facebook’s competitors, with MySpace reportedly selling for a fraction of what News Corp paid for it six years ago, and Google’s new social networking entry, Google Plus, receiving mixed reviews, one review describing it as ‘like Facebook but with no people.’