Forbes magazine has ranked Mark Zuckerberg, the founder of Facebook, as the fourteenth richest American.

Zuckerberg, the youngest billionaire is in the world, was 35th on the list last year.

The 27-year-old tech star's name appears just above those of Google founders Lary Page and Sergey Brin on Forbes's list of the 'Richest People in America. The list was published this week.

Zuckerberg has a personal net worth of $17.5 billion and is the third richest man in the technology sector in the world. The Google founders have a personal wealth of $16.7 billion each.

Bill Gates, founder of Microsoft Corp, topped the overall list with a net worth of $59 billion, maintaining the number one status consecutively for eight years.

Larry Ellison, CEO of Oracle, appears third on the list with a net worth of $33 billion.

The other IT veterans who made to the top 100 spots in the list are Michael Dell (18), Steve Ballmer (19), Paul Allen (23), Steve Jobs (39), Pierre Omidyar (50), Eric Scmidt (51) and Dustin Moskovitz (91).