The top 10 start-up billionaires

By Oliver Milman Friday, 11 March 2011 The world¶s major economies may have struggled to get back to pre-GFC growth levels last year, but the world¶s wealthiest people appear to have been nicely insulated.

According to Forbes¶ annual billionaire rankings, the 1,200-strong list increased its overall wealth from $3.4 trillion to $4.5 trillion, a figure higher than the GDP of Germany.

Amid this largess, however, there are some remarkable stories of entrepreneurial success. The presence of so many founders of relatively young businesses on the Forbes list demonstrates how quickly modern-day start-ups can grow, given the right idea, backing and timing.

Below, we¶ve run down the world¶s 10 wealthiest founders of recently founded businesses. Who knows, maybe you could make this list one day.

1. Mark Zuckerberg ± $13.5 billion
The raw numbers are stunning ± at 26-years-old, Zuckerberg is the 52nd richest person in the world, according to Forbes. His personal value soared by 238% over the past year, with investments from the likes of Goldman Sachs upping Facebook¶s value to $50 billion.

But the Facebook founder¶s impact on the world of culture, communication and business is something that is hard to sum up in numbers. Just witness Facebook¶s, albeit slightly overplayed by western media, involvement in the recent uprisings in Egypt, Tunisia and Libya.

In an entrepreneurial sense, Zuckerberg¶s creation has opened up a whole new category for developers and web start-ups. And it¶s clear he¶s not happy to rest upon his laurels ± Facebook

It could be set for a collision course with Facebook after Tanaka revealed plans to set up shop in California. Originally a tech incubator. with fruitful results. with a launch planned for later this year. The popularity of Gree¶s colourful site. as a 26-year-old in 2004 as a hobby. Moskovitz¶s entrepreneurialism hasn¶t been confined to the social media giant.has recently made aggressive moves into the area of email. A roommate of Zuckerberg¶s who dropped out of Harvard to work as Facebook¶s first chief technology officer. 3. Tanaka. Tanaka switched Gree¶s focus to mobile gaming. instant messaging and even movie rental. Japan¶s largest social networking site. has seen its stock rise by 35% in the past year. . Moskovitz has the enviable title of the world¶s youngest billionaire. is to start a social networking platform. a software firm that aims to boost workplace productivity. formerly of Sony. Dustin Moskovitz ± $2. he raised more than $10 million in funding to create Asana.7 billion At just eight days younger than Zuckerberg. In 2009. which allows users to customise avatars and play games. going by Forbes¶ list. 2. started Gree.2 billion Want to become a multi-billionaire entrepreneur before your temples start greying? The way to do it in recent years. Zuckerberg¶s value looks set to balloon further in 2011. Asana has been in private beta mode ever since. Yoshikazu Tanaka ± $2.

however complicated. Saverin¶s reaction to his exit from Facebook and the subsequent portrayal in The Social Network is philosophical: ³The true takeaway for me was that entrepreneurship and creativity. Saverin stayed beyond and. Saverin is believed to have secured a 5% stake in Facebook and his inclusion as a co-founder on the site¶s own biography.6 billion Another Facebook co-founder. are perhaps the most important drivers of business today and the growth of our economy. Eduardo Saverin ± $1. .´ Saverin has told the New York Times. in the last 12 months has somehow left the category appearing rather hackneyed. "Facebook has been a big thing and will be a big thing. After Facebook relocated from Harvard to California. but they are on the path to be a game changer. had his 34% share diluted. difficult or tortured to execute." 5. Saverin now lives in Singapore and has led an $8 million investment in tech start-up Qwiki. and abroad. In an out-of-court settlement. infamously. Eric Lefkofsky .$1.4.´ Since his Facebook departure.6 billion The plethora of group buying sites that have sprung up in Australia. ³Qwiki is early stage. Saverin was given a sympathetic portrayal in the 2010 movie The Social Network. which compiles information on a topic into a multimedia presentation.

This. however. Although it¶s very important to initiate as well as define the framework of the idea.nothing is impossible. At the scratch. It is however important to convert/transform those thoughts or visuals into a well defined set of . shut up!! U didn¶t do it anyway.this process has gotten to do with the basic and fundamental framework of the idea. its so easy to be caught up in the hype web and distractions which will result in missing out on all the opportunities that may present itself to him/her. Reality normally kicks in when a bill to be paid arrives and also when personal expenses can not be met due to lack of activity or closing business deals. Lefkofsky co-founded and provided $1 million in funding to The Point in 2007. The greatest mistake is the entrepreneur relaxing and laying on their laurels with the perception that. shouldn¶t take away from the phenomenal success of the site that created the niche ± Groupon. nobody perhaps has conceived that idea yet.I could do better. Entrepreneurs therefore must find ways and measures to swiftly transform their ideas into reality as well as business success so as not to be caught up in the hype until bills to be paid start rolling in. It could also be called the ³blueprint´ of the idea.etc.he perhaps feel nobody on this planet earth has conceived. and defining the framework or criteria of the idea into valuable information or data that will assist the entrepreneur into further developing the idea. or make an old patterned way of doing things much easier or simpler. changed its name to Groupon a year later and was valued at more than $1 billion last year. The starting point of an idea is normally in the mind of an entrepreneur when he/she comes to the realization that he/she can introduce a new product. who is also the co-founder of VC fund LightBank and an adjunct professor at the University of Chicago Booth School of Business. These are some of the processes that can be adhered to: 1)Initiate & Define:. Some people would feel jealous and sound critical with words such as. its not enough work to succeed in incubating it into reality.or even done what the idea is. owned jointly with Andrew Mason.nothing hasn¶t been done and income also not earned. One of the most unfortunate as well as funny incidence occuring in an entrepreneur¶s life is the process of conceiving an idea.just because the entrepreneur is overwhelmed. With so many ideas flowing into the entrepreneur¶s mind each and everyday. The business.provide a service.the entrepreneur is filled with excitement and feels superhuman due to the fact that. Well. If there is anything that I¶ve learnt so prefectly. its the sudden realization that dawns on me when an idea I¶ve been thinking about for sometime has been incubated and established by another entrepreneur. Not a bad return in three years for Lefkofsky. I have been in similar situations most part of my journey as an entrepreneur and what this situation does is gets the entrepreneur trapped in a fairy-tale world only to be woken up by the sudden reality that. It is never an easy task to brainstorm an idea into incubation and also reality but when practical steps are followed.that¶s not how its done. This process has gotten to do with thinking through the idea critically.

It monitors and evaluates profits of the venture within specific timeframes.competitive comparison analysis. the entrepreneur must spend a great deal of time in ensuring that the entire concept is well thought through before initiating the venture. Review is very necessary and crucial because without monitoring & evaluation structures. All plans and processing of information won¶t be necessary if it won¶t result in action. The profitability analysis principle measures and analyzes cost & margins and net profit of the venture. The entrepreneur must therefore spend a great deal of time to process those collated information from the initiation and definition process to make it workable.might require licensing and securing of permits. 2)Processing /Formulation & Enactment:.this has gotten to do with monitoring and evaluation of plans during the action phase to ensure that targets are not missed and also operations are not confronted with surprises. Its only the action phase that yield results. This is a simple outline for processing collated information which has been initiated and defined into a formulated initiative to be enacted. As the growth pattern is dependent on the blueprint. At this stage.this procedure has gotten to do with further processing the collated information into a workable initiative. The idea may be perceived as highly feasible in the mind but when written down and well thought through. Most ideas might not be legally acceptable.all the entrepreneur needs to do is work with the plan and adhere strictly to outlined specifics within the plan.SWOT analysis.might also need patent etc. as well as profitability analysis. Monitoring and evaluation also affords the entrepreneur an opportunity to project financials and growth for future transactions. Plans without action is just a waste of time!!. It is rather unfortunate most entrepreneurs are able to carry out the first two principles but lack energy enough to engage in the action process.information. sales volume & sales value and sales trend analysis is used as a yardstick in measuring growth and progress of the venture. .brand positioning. It is mostly suitable for ventures that is product oriented or involves selling of products or tangible stock. It is a good advice to all entrepreneurs to monitor and evaluate their growth regularly and make necessary adjustments by strategising operations towards their outlined plan. He/she must consider costs to start up and operational costs. Action is the implementation of the ideas and plans into a specific set of activity towards a desired outcome or goal. This principle of evaluation and monitoring is product or service sales focused. The entrepreneur can easily detect the feasibility of the venture within any time-frame and with what resources if its well thought off. 3)Action:. Writing down ideas and collating them into a well defined set of information also aids the entrepreneur in not missing important steps in the start up process. This can be done by getting a notepad and thinking through the idea as well as making pointers. Without action results can¶t be achieved and money won¶t be made out of the venture.competitive strategies. With the sales analysis principle.etc. It can be a yardstick for ventures that are service oriented or involved in selling of intangible stock. Action is what achieve results.this is the most important aspect of the idea creation process. Processing the blueprint results in a working plan that simplifies things for the entrepreneur. the entrepreneur may discover that it wouldn¶t survive within his setting and may choose to relegate it or start up where it will likely be a success. 4)Review:. Control and monitoring can be done with sales analysis principles. the entrepreneur wouldn¶t be able to ascertain if the venture is following the outlined plan and growing at the desired pace as well as targeting & plan.

the future of a business is never certain. Consumer response to a product or service is bound to change over a period of time.introduction of existing products into new markets. . The law of diminishing returns sets in for both the consumer in consuming a particular product or service over long periods of time. The life cycle of business is in 3 stages. or fruit smoothies venture introducing new fruit flavors to their service range.this principle is mostly over-looked by entrepreneurs. This is the trend in all businesses as well as all aspects of life. and decline stage(falling stage).new product development. Start up stage. consumer feedback. growth stage(equilibrium stage). This principle can be carried out through research & development. The excitement and response to both processes wear down. and even big corporations. It is however essential for the entrepreneur to innovate his product or service and ensure that it addresses the needs of the consumer within any specified time-frame.5)Innovate / fine-tune:. As society is dynamic and technology changes things swiftly. but differentiated range also introduced. and niche creation and growth. and also the entrepreneur in producing or providing the same service over a priod of time. The same basic product or service can be offered. Example a beverage distribution company introducing differentiated flavors of beverage.

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