Mark Zuckerberg is a philanthropist and technology entrepreneur who currently has a net worth of $130 billion dollars.
This means that he is third on the list of richest people in the world.
Out of the list of the top 100 richest people in the world, Mark Zuckerberg is the youngest. He is the youngest in the top 30 list as well by more than 10 years.
As you probably already know, a big part of Mark Zuckerberg’s net worth comes from Facebook.
Mark Zuckerberg owns approximately 400 million shares in total of Facebook, but they are in different classes.
This means that he owns 12 million in Class A, 365 million in Class B, which means that he has more voting rights than the average shareholder.
Mark Zuckerberg Net Worth
Mark Zuckerberg’s net worth managed to reach over $100 billion in late 2020 and has kept climbing to around $130 billion in 2021.
Mark Zuckerberg Facts & Statistics
Mark Zuckerberg was born in White Plains, New York, and eventually grew up to attend Harvard.
He attended Phillips Exeter Academy where he did really well academically and won prizes in math, physics, astronomy, and classical studies. He was also building software programs even back then.
This is why he was already known for his programming skills by the time he made it into Harvard. He studied computer science and psychology.
In his sophomore year, he wrote the program called CourseMatch, where users could make selections on classes based on what other students were choosing so that they could easily create study groups around their papers.
After this, he developed Facemash, which allowed its users to choose what they believed to be the best-looking individual from a selection of images. The university had to shut it down its first weekend because it was so popular.
In 2004, Zuckerberg started to write code for a new website, which he called ‘Thefacebook’. In his sophomore year, he dropped out of college to start working on Facebook full-time.
Mark Zuckerberg and his friends moved to Palo Alto in California where they rented a small house that was Facebook’s first office in 2004.
Over that summer, Zuckerberg met with Peter Thiel, who agreed to invest in the company.
Mark Zuckerberg and his friends developing Facebook thought that they might move back to Harvard at some point, but they eventually decided to stay in California.
They had turned down numerous offers from companies that wanted to purchase the company.
Mark asked for advice from Peter Currie, who was the CFO of Netscape around financing strategies.
By 2010, 500 million people were using Facebook.
Of course these days Facebook is one of the biggest social networks in the world, and it has made Zuckerberg one of the richest men alive today.
Mark’s net worth might be in the millions, but his salary is just $1.
Yup, you read that right – he pays himself $1 a year, and it’s all based on a financial strategy.
There are a lot of CEOs out there of companies that choose to pay themselves low salaries so that they can increase the revenue of the company as much as possible.
When the company is able to maximize profits, they increase the value of their stocks, and this is where his net worth and real wealth come from.
Facebook made their initial public offering in 2012, and back then, shares were worth $38. Because Mark Zuckerberg owns 400 million shares of Facebook, this means that he has a net worth of around $15 billion.
However, he has said that he is willing to give away 99% of this wealth in his lifetime, and he has started to sell bits of these shares to fund the foundation that he co-runs with his wife. In 2019, for example, he sold $1.86 billion worth of Facebook shares.
Zuckerberg has been in trouble before when it comes to the use of personal data related to Facebook.
This was in relation to the data breach of Cambridge Analytica and Facebook.
However, Mark Zuckerberg blamed Cambridge Analytica, calling the entire situation a breach of trust between the two companies.
Zuckerberg and his wife currently own more than $200 million worth of land and real estate.
They own a number of homes in Palo Alto, as well as acreage in Hawaii, and they also own a townhouse in San Francisco. Their main home is in Palo Alto, which they bought for $7 million in 2011.
He also owns property in Lake Tahoe, for which he paid $59 million in 2018.