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Facebook's Mark Zuckerberg named world's youngest billionaire

Facebook's Mark Zuckerberg named world's youngest billionaire

Microsoft's Bill Gates reclaims top spot as world's richest man

At the age of 29, Facebook CEO, Mark Zuckerberg, has been named the world's youngest billionaire.

Zuckerberg won the title of this year's biggest winner in the Bloomberg Markets magazine's annual list of the world's richest people, for seeing his net worth double since December 2012 to $US24.5 billion. He is ranked 25 in the list as of 30 September.

While the top performing industry was retail (up $US80.3 billion), the technology industry (up $US48.96 billion) came second.

This is no doubt helped by Microsoft's co-founder Bill Gates reclaiming the top spot from former frontrunner Carlos Slim. Gates, aged 57, has a net worth of $US72.9 billion, up 16.2 per cent from last year.

Oracle's CEO Larry Ellison, aged 69 and ranked eighth, is the second richest man in tech, with a fortune of $US41 billion.

Third richest is Amazon's founder and CEO Jeff Bezos, aged 49 and ranked 17th, with a net worth of $US28.9 billion.

Forty-year-old Google bosses Larry Page ($US25.5 billion) and Sergey Brin ($US25.1 billion), ranked just above Zuckerberg at 23rd and 24th, are the fourth and fifth richest men in technology, respectively.

The rest of the top 10 in tech comprises Microsoft's departing CEO Steve Ballmer and co-founder Paul Allen (ranked 57th and 60th with fortunes of $US16.4 billion and $US15.3 billion), Dell's founder and CEO Michael Dell (48th with $US15 billion) and Wipro's chairman Azim Premji (68th with $US12.7 billion).

Most of the billionaires in Bloomberg's list are based in the US (37), with only one in the UK - real estate company Grosvenor Group's Gerald Cavendish Grosvenor ($US12.6 billion) at number 85.

Only 11 women out of 100 billionaires featured in the list, with the richest woman being Alice Walton, the daughter of Wal-Mart's founder, at number 12 ($US33.5 billion).

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