Snapchat CEO Evan Spiegel attends the first day of the annual Allen and Co. media conference in Sun Valley, Idaho, July 8, 2015.
Snapchat CEO Evan Spiegel attends the first day of the annual Allen and Co. media conference in Sun Valley, Idaho, July 8, 2015. Reuters/Mike Blake

Twenty-five years old Snapchat co-founder Evan Spiegel has entered the Forbes 400 group as the world’s youngest billionaire, Forbes announced on Tuesday.

Since March, when Forbes predicted Spiegel’s entrance to the Forbes 400 club, the co-founder and CEO has witnessed a positive swing in his net worth from US$1.5 billion (AU$2 billion) to US$2.1 billion (AU$3 billion). Co-founder Bobby Murphy, 27, has also joined the group with his gross worth US$1.8 billion (AU$2.5 billion).

Spiegel and Murphy are among the 25 new entrants into the list of richest people in the U.S. Blood plasma center owner Kieu Hoang with net worth of US$3.8 billion (AU$5.4 billion) and real estate developer Rick Caruso with US$3.5 billion (AU$4.9 billion) were also seen on the financial magazine’s listing.

Spiegel, born and raised in Los Angeles, U.S., was spotted at no. 327 on the list. He studied engineering product design at Stanford University, but he quit his studies to work full time on the popular app, Snapchat. Murphy, on no. 375, is the chief technology officer of the chat app.

The application is popularly used by the teens and young adults. The functions include chatting with friends to reading the news and gathering useful information related to professionally created amateur videos. Snapchat celebrated its fourth year last Friday.

Facebook founder Mark Zuckerberg remains the richest and youngest in the list. He is at no. 7 with US$40.3 billion [AU$57.6]. Apart from the three mentioned, 14 other young moneymakers have joined the rich list.

  • Julio Mario Santo Domingo III with net yearly income $1.9 billion (AU$2.7 billion)

  • Dustin Moskovitz with net yearly income $8.4 billion (AU$12 billion)

  • Elizabeth Holmes with net yearly income $4.5 billion (AU$6.4 billion)

  • Scott Duncan with net yearly income $5 billion (AU$7.1billion)

  • Nathan Blecharczyk with net yearly income $3.3 billion (AU$4.7 billion)

  • Brian Chsetky with net yearly income $3.3 billion (AU$4.7 billion)

  • Joe Gebbia with net yearly income $3.3 billion (AU$4.7billion)

  • Sean Parker with net yearly income $2.5 billion (AU$3.9 billion)

  • Andres Santo Domingo with net yearly income $3.8 billion (AU$5.4 billion)

  • Robert Pera with net yearly income $2.2 billion (AU$2.7 billion)

  • Alejandro Santo Domingo with net yearly income $3.8 billion (AU$5.4 billion)

  • Jack Dorsey with net yearly income $2.2 billion (AU$3.1 billion)

  • Jan Koum with net yearly income $7.7 billion (AU$11 billion)

  • Travis Kalanick with net yearly income $6 billion (AU$8.6 billion)

This is the 22nd year Microsoft co-founder Bill Gates topped the wealthiest Americans listing. His net income for the year is US$76 billion (AU$108 billion).

Rounding up the top 10 are Bill Gates, Warren Buffett, Larry Ellison, Jeff Bezos, Charles Koch, David Koch, Mark Zuckerberg, Michael Bloomberg, Jim Walton and Larry Page

Contact the writer at feedback@ibtimes.com.au, or let us know what you think below.

RELATED STORIES