Chairman and CEO, AOL
Rank change: Down
NEXT: 19. Esther Duflo
It's been less than a year since AOL was spun out of Time Warner (parent of Fortune's publisher), but Armstrong has been on a tear in his efforts to transform the dotcom-era
punchline into a powerhouse in emerging forms of digital content and journalism. He has slashed 8,900 jobs, and cash on hand has increased from $100 million to $600 million, even
while the company has invested in local journalism ventures like Patch and Seed and made headlines by buying popular Silicon Valley blog TechCrunch.
Side project: Armstrong is a part owner in the upstart United Football League.