|Date of Birth||May 14, 1984|
|Occupation||CEO of Meta Platforms, CEO of CZI|
|Net Worth||$72.8 Billion|
|Source of Wealth|
|Education||Harvard University (Dropout)|
|Residence||Palo Alto, California|
Mark Zuckerberg is an American technology entrepreneur, billionaire, and philanthropist. He’s best known for cofounding Facebook. Mark Zuckerberg net worth is estimated to be $72.8 billion, making him the world’s 15th wealthiest individual according to Forbes.
Mark Zuckerberg’s wealth comes from his 12% stake in Facebook, one of the world’s most valuable companies. The company is valued at over $855 billion. In October 2021 Facebook rebranded to Meta Platforms, which is the parent company of Facebook, WhatsApp, Instagram, and other subsidiaries. Zuckerberg is the CEO of Meta Platforms.
In 2007, three years after creating Facebook, Zuckerberg became the youngest self-made billionaire in the world. Last year, the billionaire was the world’s 5th richest person with a net worth of $97 billion. As of March 2022, he’s the 9th wealthiest individual in the United States and the 7th richest billionaire in technology.
Mark Zuckerberg is also a co-founder and co-CEO of the Chan Zuckerberg Initiative (CZI), a charitable organization that focuses on health, science, education, and criminal justice. This year, Zuckerberg with his wife Priscilla Chan were featured by Forbes as some of the most generous billionaires in the U.S having given away $3 billion to charitable causes through their CZI. The couple signed the Giving Pledge in 2015.
Mark Zuckerberg Net Worth
Mark Zuckerberg net worth can buy 88,000 Lamborghini Aventadors and is equivalent to 0.369% of the GDP of the United States. It’s also equivalent to 0.994% of the total wealth of the 500 richest individuals in the world.
The billionaire is the 3rd richest in the state of California, after Larry Page and Sergey Brin.
Change of Wealth over time
In April 2021, the billionaire saw his wealth rise to $97 billion up from $85 billion in September 2020. By October 2021, Zuckerberg’s fortune hit an all-time high of $134.5 billion before falling in early 2022.
So how did Mark Zuckerberg start and how did he get so rich?
The Facebook CEO was born in New York on May 14, 1984, to Edward Zuckerberg, a dentist, and Karen, a psychiatrist. Zuckerberg attended Ardsley High School and later joined Phillips Exeter Academy.
He began using computers and writing computer software in middle school. His father introduced him to basic programming and even hired a software developer to teach him programming privately. Mark could then create computer games and even helped build the Synapse Media Player while in high school.
Zuckerberg has 3 sisters, Arielle, Randi, and Donna.
How Mark Zuckerberg made his fortune
The billionaire founded Facebook in 2004 from his Harvard dormitory room. He would later drop out in his sophomore year to concentrate on Facebook.
Mark Zuckerberg’s wealth comes from his shares at Facebook. The company has a market cap of about $600 billion as of 2022. He owns 12% of the company.
While scrolling through your feed on Facebook, you’ve probably come across an ad promoting a company, business, or something else. That’s how Facebook makes most of its money. In the last quarter of 2021, the company posted a revenue of $33.7 billion, and $32.8 billion (97%) was advertising revenue. The billionaire receives a one-dollar salary as its CEO.
The Meta Platforms CEO made about $1.7 million every hour in 2018. According to cnet.com, Facebook makes about $319.6 million every day, which translates to roughly $13.3 million every hour, $220,000 per minute, and about $3,700 every second. Let’s say your average annual salary is $100,000, it would take 133 years for you to make what Zuckerberg makes in one hour, lol.
How Mark Zuckerberg spends his billions
Mark Zuckerberg has a huge real estate portfolio. In 2011, he bought a $7 million mansion in Palo Alto and then went on to buy 4 neighboring properties for $43 million. In 2014, Zuckerberg bought 2 properties in Kauai Island in Hawaii spanning 839 acres for $145 million.
The billionaire also paid $66 million for the Kahuaina plantation located next to the postcard worthy pilas beach. In 2019, he spent about $59 million on 2 adjacent properties which span about 10 acres in Lake Tahoe. He also owns a $10 million mansion in San Francisco which he renovated for $1.6 million. In total, Zuckerberg owns about 10 properties across the country.
In 2012, Mark Zuckerberg bought Instagram for $1 billion. Two years later, he acquired WhatsApp for a whopping $19 billion.
In 2017, the billionaire bought a $150 million yacht known as Ulysses from billionaire Graeme Hart which came with its own private helicopter. He spends about $2 million every month in maintenance costs for the Ulysses. The yacht can sail halfway around the world without refueling.
The Facebook CEO does not spend a lot of money on fashion, a reason you might never see him with $100,000 Rolex watches or expensive diamond chains. However, the grey t-shirts you often see him wearing come from designer brand Bruno Cuccinelli and cost up to $400 each.
Zuckerberg is not a big fan of expensive sports cars either. You might often spot him in a $30,000 Volkswagen Golf, a $30,000 Acura TSX, or a $16,000 Honda Fit. He however owns a Pagani Huayra worth $1.3 million which is his most expensive ride.
The billionaire spends more than $7.3 million every year for his personal security which translates to about $20,000 a day. He uses a chattered private jet when he needs to save some time and for his personal security and privacy. Zuckerberg spends more than $875,000 every year for charter flights.
Mark Zuckerberg also spends a huge chunk of his money on charity. He founded the Chan Zuckerberg Initiative (CZI) together with his wife in 2015 and has given away $3 billion in the course of his lifetime.
In 2016, the CZI gave $600 million to create the Chan Zuckerberg Biohub, a research space that aims to encourage collaboration and interaction among scientists from around the country. Zuckerberg wants to treat all diseases in the world by 2100.
Related: Jeff Bezos Net Worth
During his sophomore year at Harvard University, Mark Zuckerberg met Priscilla Chan who would later become his wife. The two began dating in 2003. In 2010 they started living together in a house that Zuckerberg had rented in Palo Alto, California. Chan was a medical student at the University of California at the time.
In May 2012 Zuckerberg and Chan got married in his backyard and celebrated Chan’s graduation from medical school in the same event. They have 2 daughters Maxima Chan Zuckerberg (born 2015) and Chen Mingyu (born 2017). Before the birth of their first daughter, Chan had experienced 3 miscarriages.
Related: Bill Gates Net Worth
In 2017, Mark Zuckerberg net worth was about $56 billion. With a fortune of $72.8 billion now, he has added close to $20 billion to his net worth over the last 5 years. It is with no doubt that his net worth will continue increasing.
Finally, here are a few quotes from Mark Zuckerberg which I thought could inspire you.
- The biggest risk is not taking any risk… In a world that is changing really quickly, the only strategy that is guaranteed to fail is not taking risks.
- Move fast and break things. Unless you are breaking stuff, you are not moving fast enough.
- Founding a company is hard. Most of it isn’t smooth. You’ll have to make very hard decisions. You have to fire a few people. Therefore, if you don’t believe in your mission, giving up is easy. The majority of founders give up. But the best founders don’t give up.
- I think a simple rule of business is, if you do the things that are easier first, then you can actually make a lot of progress.
- All of my friends who have younger siblings who are going to college or high school – my number one piece of advice is: You should learn how to program.
- I feel that the best companies are started not because the founder wanted a company but because the founder wanted to change the world… If you decide you want to found a company, you maybe start to develop your first idea. And hire lots of workers.
- I literally coded Facebook in my dorm room and launched it from my dorm room. I rented a server for $85 a month, and I funded it by putting an ad on the side, and we’ve funded ever since by putting ads on the side.