Mark Zuckerberg is one of the world’s richest people. Last year, the Facebook founder and CEO’s wealth went over $100 billion, making him one of only 10 people in the world to have that much money. Forbes says that because of recent events, that number is now only $64.7 billion.
Zuckerberg stays out of the spotlight most of the time, but he does spend a lot of money on real estate, especially in Hawaii. He and his wife, Priscilla Chan, also put money into medical research and the education of children.
Mark Zuckerberg Net Worth
Mark Zuckerberg is an American businessman and philanthropist who works in technology. He ha a net worth of $51 billion. Mark Zuckerberg has been one of the richest people on the planet for most of the last ten years. Mark is the youngest of the top 100 richest people in the world. He is the youngest person in the top 30 by more than a decade.
Most of Mark’s wealth comes from his shares in Facebook, which is probably not a big surprise. Mark currently owns about 400 million Facebook shares, which are split into different classes with different voting rights. He owns about 12 million Facebook Class A shares and 365 million Facebook Class B shares, which is about 81% of all the Class B shares. Mark has 53% of the voting power in the company through these Class B super-voting shares. Mark also has control over Dustin Moskovitz’s Class B voting rights, so he has about 58% of the total voting power in the company.
On August 7, 2020, Mark Zuckerberg’s net worth went over $100 billion for the first time. On January 1, 2022, he was one of the five richest people in the world. His net worth was $126 billion. Over the next few months, Mark’s luck got worse as Facebook’s stock price fell by about 50%, from around $340 a share to $170 a share. By the end of April, his net worth was $65 billion, which was $60 billion less than it was in early January. Only one of the top 100 billionaires lost more money in the same amount of time. Mark dropped from being the fifth richest person in the world to being the 19th.
Mark Zuckerberg Early Life
Mark Elliot Zuckerberg was born on May 14, 1984, in White Plains, New York. Edward, his father, is a dentist, and Karen, his mother, is a psychiatrist. Randi, Donna, and Arielle are the names of his three sisters. Mark and his sisters grew up in Westchester County, in the town of Dobbs Ferry, New York. When he was 12, his Bar Mitzvah was based on “Star Wars.”
Zuckerberg began to use computers and write software when he was in middle school. In the 1990s, his father taught him BASIC programming, and then he hired software developer David Newman to teach him on his own.
Zuckerberg spent his first and second years at Ardsley High School. He went to Phillips Exeter Academy for his junior and senior years, where he did well in school and won prizes in physics, math, astronomy, and classical studies. He led the team of fencers at Phillip Exeter Academy. He took a BASIC course at Mercy College at the graduate level while he was still in high school. He also made a piece of software he called “ZuckNet” that connected all the computers in the Zuckerbergs’ home with the ones in his dad’s dental office. It worked in a way that was similar to AOL’s Instant Messenger, which came out a year after Mark built ZuckNet. In high school, Zuckerberg also made a music player called the Synapse Media Player. The media player found out what the user liked to listen to. AOL tried to buy Synapse and get Zuckerberg to work there. Microsoft also put in a bid for Synapse worth a few million dollars and tried to hire Zuckerberg. He didn’t sell, and in the fall of 2002, he went to Harvard.
By the time he got to Harvard, Zuckerberg was known as a genius when it came to programming. He went to school to learn about psychology and computers. He was in the Alpha Epsilon Pi fraternity and lived in the Kirkland house. In his second year of high school, Zuckerberg wrote the program CourseMatch. Users could choose classes based on what other students chose, and they could also get together to study. Not long after that, he made Facemash, which let people choose the most attractive person from a group of photos. When the site went live for the first time, it caused so much traffic that Harvard had to shut it down.
In January 2004, at the start of the next school year, Zuckerberg began writing the code for a new website. On February 4, 2004, Zuckerberg and three other Harvard students—Dustin Moskovitz, Chris Hughes, and Eduardo Saverin—launched “Thefacebook” from Zuckerberg’s dorm room. The site was first found at thefacebook.com.
Zuckerberg quit Harvard after his second year so he could work on Facebook. In 2017, he was given an honorary degree.
In the spring of 2004, Zuckerberg, Moskovitz, and a few friends moved to Palo Alto, California, where they rented a small house to use as Facebook’s office.
Peter Thiel, who invested in the company, met Zuckerberg over the summer. At first, the group was going to go back to Harvard, but then they decided to stay in California. Big companies had already passed on the chance to buy the company. In April 2009, Zuckerberg talked to Peter Currie, the former CFO of Netscape, about how to pay for Facebook. Zuckerberg announced on July 21, 2010, that the company had reached 500 million users. Facebook is now a huge social network, and Mark Zuckerberg is one of the richest people in the world because of it.
Mark Zuckerberg gets $1 a year as pay. It’s not a mistake. Many executives, like Zuckerberg, choose to take low salaries so that they can make as much money as possible for the company. When a company tries to make as much money as possible, the overall value of their stock holdings goes up. This is where the real wealth of the executive comes from. Executives like Eric Schmidt, Larry Page, and Sergey Brin only get paid $1 per year!
Information on wealth
Facebook went public on May 18, 2012, and each share cost about $38. Mark owns 400,000,000 Facebook shares. So, at the end of the day of the IPO, he had a “paper net worth” of about $15 billion.
Mark has promised to give away 99 percent of his money while he is alive. In September 2017, he said he would sell pieces of his shares on a regular basis to pay for his foundation, the CZI (Chan-Zuckerberg Initiative). In 2018, he sold shares that brought in $5.3 billion. In 2019, he sold Facebook shares worth $1.86 billion.
Harvard students Divya Narendra, Cameron Winklevoss, and Tyler Winklevoss sued Zuckerberg, saying he made them think he would help them build their website idea, HarvardConnection.com, a social network that was later renamed ConnectU. There were then a lot of lawsuits. The case was settled on June 25, 2008. They got 1.2 million common shares and $20 million in cash as part of the settlement. Those shares are worth more than $200 million if they are still owned. The Winklevoss brothers sold at least some of these shares to pay for their Bitcoin investments. They own so much Bitcoin that their total crypto assets were worth more than $1 billion in December 2017.
On April 10 and 11, 2018, Zuckerberg started testifying before the United States Senate Committee on Commerce, Science, and Transportation about how Facebook uses personal information in relation to the Facebook–Cambridge Analytica data breach.
Zuckerberg said that the whole thing was a breach of trust between Cambridge Analytica, Aleksandr Kogan, and Facebook.
Zuckerberg said on his college applications that he could read and write in French, Hebrew, Latin, and ancient Greek. In his second year at Harvard, Zuckerberg met his future wife, Priscilla Chan, at a fraternity party. In 2003, they went out together. Zuckerberg asked Chan, who was a medical student at the University of California at the time, to move into the house he rented in Palo Alto in September 2010.
Zuckerberg and Chan got married on May 19, 2012, in Zuckerberg’s backyard. The event also marked Chan’s graduation from medical school. Zuckerberg told the world on December 1, 2015, that their daughter, Maxima Chan Zuckerberg, had been born (“Max”). In August 2017, they had their second daughter, August.
Zuckerberg and Chan are both members of The Giving Pledge, and through their foundation, the Chan Zuckerberg Initiative, they do a lot of good work in the world. The couple plans to give 99% of their Facebook shares to the Initiative in the future.
Zuckerberg and Chan own real estate and land around the world that is worth about $200 million. Some of their most important properties are 1400 acres in Hawaii, a townhouse in San Francisco, and several homes in Palo Alto.
Mark Zuckerberg and his family live in a simple Palo Alto house with 5,000 square feet that he bought for $7 million in 2011. But he also owns the other “modest” homes around this one, making a private compound. In 2012, Zuckerberg started buying the four properties around his house. He spent a total of $43 million buying up properties in the area. He then rented the homes back to the people who had owned them before, with the plan to eventually tear them down and build new ones. But city officials didn’t like his plan, so he came up with a new one to fix up two of the homes and build single-story homes for the other two.
In 2013, he paid $10 million for a townhouse in San Francisco with 5,500 square feet. The house was built in 1928 and sits on a 9,800-square-foot lot with 70 feet of sidewalk frontage. He fixed up the house with more than $1.6 million. Sixty-five thousand dollars, if that was spent on remodelling the kitchen and one bathroom.
In 2014, Zuckerberg spent $100 million to buy two homes on the island of Kauai in Hawaii. On a remote stretch of a Hawaiian beach, these properties cover 750 acres. In 2017, he paid more than $45 million for another 89 acres nearby. In January 2022, he bought another 100 acres, bringing the total number of acres he owned on Kauai to 1,400. In 2018, Zuckerberg spent $59 million on two private waterfront estates on Lake Tahoe. They are right next to each other.
Between the two properties, Zuckerberg owns 600 feet of Lake Tahoe private waterfront.
Please add NogMagazine.com to your bookmarks to stay up to date. Hope you liked our post. So please leave a comment. We will keep updating our site as needed. Tell your friends and family about our post. Also, check out our section on celebrities to learn more about the amount of money your favorite stars have.
Jessa Martin is the author of Nogmagazine, A professional in writing by day, and novelist by night, she received her bachelor of arts in film from Howard University and her master of arts in media studies from the New School. A Brooklyn native, she is a lover of naps, cookie dough, and beaches, currently residing in the borough she loves, most likely multitasking.