Xochi and Michael Birch, Elon Musk, Chase Coleman, Nishita Shaw, Next Generation Billionaires
Forbes has printed a list of the next generation of billionaires, young businesspeople and entertainers who are expected to cross from millionaires to billionaires in the near future. Michael Birch, Xochi Birch, Elon Musk, Chase Coleman and Nishita Shaw are all under the age of 40 and have hefty, nine-digit bank accounts
Michael Birch and his wife and business partner Xochi Birch had a $500 million payday when they sold their company, social networking Web site Bebo.com, to AOL for $850 million. Michael and Xochi Birch, 38 and 36, had started a number of Web sites in the last decade but none had the return on the 3-year-old Bebo.com.
Elon Musk, 37, co-founded PayPal, the online payment processor and made $170 million when the company was sold to eBay. Unlike Michael and Xochi Birch who are taking time off to spend with their family, Elon Musk is investing in a company called SpaceX to provide commercial space flight. He reports that SpaceX has been profitable for 18 months even though commercial space travel has not yet seen mainstream success.
Chase Coleman founded Tiger Global Management and performed over six times better than the national hedge fund average last year. Forbes estimates that Chase Coleman is worth around $400 million.
GroundReport has an article devoted to Nishita Shah, a glamorous Thai woman who, at 28 years old, is already valued at $350 million. See the article here.
Tags: Xochi Birch , Michael Birch , Elon Musk , Chase Coleman , Nishita Shaw , Next Generation Billionai , Forbes
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