Facebook CEO Mark Zuckerberg now has a higher net worth than Apple CEO Steve Jobs, as first noted by Forbes. This year, Zuckerberg is estimated to be worth $6.9 billion, mainly thanks to the soaring valuation of Facebook -- anywhere between $23 billion and $34 billion -- which he founded just five years ago. Jobs, meanwhile, has a net worth of $6.1 billion, most of which is actually tied up in Disney. Apple was founded before Zuckerberg was born.

Zuckerberg added $4.9 billion to his fortune this year, while Jobs only grabbed a billion. That means Zuckerberg is number 35 on the Forbes 400 while Jobs is placed at 42. Bill Gates remains the richest American with a net worth of $54 billion.

So what is Zuckerberg planning to do with all that money? For starters, he's about donate $100 million to help turn around the Newark public school system, according to The Wall Street Journal. The donation will be the first step from a foundation intended to improve US education. He will discuss the contribution Friday on The Oprah Winfrey Show, joined by Newark Mayor Cory Booker and New Jersey Governor Chris Christie.

Billionaires Zuckerberg and Jobs might soon be fighting in more than just wealth rankings. On September 1st, Apple entered the social network fray with Ping. Facebook, meanwhile, is rumored to be developing its own phone, but even if it isn't, the mobile space is going to be of utmost importance if the world's largest social network is to remain at the top.