Facebook Inc.’s $16 billion initial public offering has made company co-founder Mark Zuckerberg the 29th richest person on Earth, Bloomberg reported.

Facebook sold 421.2 million shares for $38 each. At that price, the 503.6 million shares and options that Zuckerberg, 28, owns are valued at $19.1 billion, making him wealthier than Google Inc. co- founders Sergey Brin and Larry Page, according to the Bloomberg Billionaires Index.

Zuckerberg sold 30.2 million shares for $1.15 billion during Facebook’s initial public offering. Most of the proceeds will be used to pay the taxes associated with exercising 60 million stock options, Bloomberg said.

Facebook’s $104.2 billion valuation crystallizes the fortunes of the company’s three other co-founders. Dustin Moskovitz, 27, who roomed with Zuckerberg at Harvard University, is now worth $5.1 billion. He owns 133.7 million shares of the company’s Class B stock, and will sell 7.5 million shares if the underwriters exercise their option to buy additional stock.

Moskovitz, the company’s first chief technology officer, left the social network with Facebook colleague Justin Rosenstein in 2008. The duo founded Asana Inc., a task management software company.

Eduardo Saverin, 30, has a $2.7 billion estimated fortune. He owned about 4 percent of the company’s outstanding shares prior to the offering, according to whoownsfacebook.com, which is published by Massinvestor Inc. and draws its information from Facebook’s filings with the Securities and Exchange Commission, press releases, news reports and other publicly available sources.

The Brazil-born Facebook co-founder renounced his U.S. citizenship last year and is now a permanent resident of Singapore. Saverin’s move could save him $67 million in federal taxes, according to data compiled by Bloomberg. He declined an interview with Bloomberg.

“I am obligated to and will pay hundreds of millions of dollars in taxes to the United States government,” he said in May 17 statement.

Co-founder Christopher Hughes, 28, owns about 22 million shares of Facebook, according to a person familiar with his holdings who asked not to be named because the matter is private. At $38 per share, his stake is worth $836 million.

Hughes, who bought The New Republic magazine in March, has more than $100 million in cash and real estate after selling some of his Facebook hoard, according to data compiled by Bloomberg. Facebook shares would need to rise 7.9 percent to $41 for Hughes’s fortune to crest 10 figures.

Facebook, which makes 85 percent of its revenue from advertising, is valued at 25.8 times trailing 12-month sales, more than double Google’s valuation when the search engine debuted in 2004, Bloomberg said.