Newsflash: Mark Zuckerberg Is Really, Really, Really Rich

He's now the world's third richest tech mogul

Earlier this week, GSV Capital bought 225,000 shares of Facebook stock at an average price of $29.28 per share—giving the social networking site a valuation of about $70 billion and making its founder Mark Zuckerberg the world’s third richest tech titan.

When Forbes calculated its World’s Richest People list back in February, Facebook was valued at a mere $50 billion, putting Zuckerberg’s net worth at around $13.5 billion. Now, based on the 40 percent valuation increase, Forbes estimates that his mostly paper fortune (assuming that he has quietly sold about $1 billion worth of shares) is upwards of $18 billion. Facebook’s other billionaires—Eduardo Saverin, Sean Parker, Dustin Moskovitz, Peter Thiel, and Yuri Milner—are a whole lot richer, too.

Last fall, Zuckerberg’s net worth passed Apple’s Steve Jobs, and based on this new $18 billion estimate, he’s also now richer than Microsoft head Steve Ballmer and Google co-founders Sergey Brin and Larry Page. Only Microsoft’s Bill Gates and Oracle’s Larry Ellison stand in the way of Zuckerberg becoming the richest tech giant—but with Gates and Ellison at a respective $56 billion and $39.5 billion, Facebook’s newcomer still has a ways to go.