Mark Zuckerberg loses his title of richest person in California

Ash Jurberg

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Today Forbes released their annual list of global billionaires. In 2022 there are 2,668 billionaires globally, which is a drop of 329 from last year.

There are 748 billionaires in the United States, and California is the state with the most. One hundred eighty-six billionaires call California home.

But of these 186, only one can call themselves the richest person in California. So let's see who it is.

The richest person in California

With an incredible net worth of $111 billion, the richest person in California is Larry Page. He is also the sixth richest person in the world.

Larry Page has taken the title from Facebook founder Mark Zuckerberg, who drops to third richest in California and 13th in the world. Since it rebranded to Meta, the declining share price of Facebook has seen Zuckerberg drop out of the world’s ten richest for the first time in six years.

Larry Page has made his huge fortune thanks to Google, the company he co-founded in 1998 with fellow Stanford Ph.D. student Sergey Brin. Along with Brin, he invented Google's PageRank algorithm, which powers Google and is responsible for 5.6 billion searches a day.


Page was the CEO of Google from its inception until 2001 and then again from 2011 to 2015. During this period, he was voted America's most popular CEO. In July 2015, he moved to CEO of Alphabet, which is Google's parent company.

Although he stepped down as CEO of Alphabet in 2019, he is a controlling shareholder, which is the reason for his enormous net worth. Larry Page is a clean energy advocate, and his Palo Alto home uses fuel cells and geothermal energy. He is also an investor in Tesla.

Philanthropy

I always like to look at how these mega-billionaires give back to the community.

There has been some criticism of Page and his philanthropy. While other billionaires in the top ten, such as Bill Gates and Warren Buffet, give away most of their wealth, some critics believe Page should follow suit and donate more.

In 2014 he donated Google shares worth $177 million to the Carl Victor Page Memorial Foundation. He started the foundation in 2006 and named it after his father. Larry Page has disclosed over $2 billion in donations to his foundation since it started.

Are you surprised to see Zuckerberg dethroned as the richest person in California? Do you think Page should be donating more to charity?

Please leave your comments below.

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