Co-founder, chair, and CEO of Meta (META), now known as Facebook, Mark Zuckerberg is a self-taught computer programmer.
With Andrew McCollum, Dustin Moskovitz, Chris Hughes, and Eduardo Saverin, Zuckerberg founded the social networking site, which was formerly known as Facemash, in his dorm room at Harvard University in 2004.
Birthplace and Family Background
The son of dentist Edward Zuckerberg and psychiatrist Karen (née Kempner), Mark Elliot Zuckerberg was born in White Plains, New York, on May 14, 1984. He and his three sisters—writer Donna, businesswoman Arielle, and actress Randi—were brought up in a Reform Jewish family in Dobbs Ferry, New York.
His great-grandparents came to America as Jewish immigrants from Poland, Germany, and Austria. Prior to going to Phillips Exeter Academy, he completed his high school education at Ardsley High School. He was the fencing team’s captain.
Mark Zuckerberg’s Enormous Wealth (Net Worth)
|Net Worth:||$51.2 billion|
|Salary:||$1 Dollar Per Year|
|Date of Birth:||May 14, 1984 (38 years old)|
|Height:||5 ft 8 in (1.75 m)|
|Profession:||Programmer, Entrepreneur, Businessperson|
|Nationality:||United States of America|
Mark Zuckerberg has a net worth of $51.2 billion. The majority of the past ten years have seen Mark Zuckerberg among the richest persons on the planet. Mark is the youngest of the world’s top 100 richest persons. He is by more than a decade the youngest of the top 30.
That Mark’s shares on Facebook account for the great majority of his wealth may not come as a surprise. Currently, Mark has over 400 million shares of Facebook in his possession, divided into a number of classes with varying voting rights.
He owns 365 million Class B shares of Facebook, or about 81% of the total B shares, and about 12 million Class A shares. Mark controls 53% of the company’s voting rights through those Class B super-voting shares. Mark technically possesses 58% of the company’s total voting power because he also controls co-founder Dustin Moskovitz’s Class B voting rights.
A $71 Billion Decline in Mark Zuckerberg’s Net Wealth
According to the Bloomberg Billionaires Index, Mark Zuckerberg’s net worth decreased significantly by a staggering $71 billion in 2022 as a result of the decision to rebrand Facebook as Meta and the emphasis on the Metaverse.
According to Bloomberg, he is presently rated 20th among all billionaires in the world, which is his lowest position on the list since 2014.
With only Microsoft founder Bill Gates and Amazon founder Jeff Bezos ahead of him in terms of wealth in 2020, the Meta CEO had a net worth of almost $106 billion. Zuckerberg reached his financial zenith in September 2021, when Facebook shares soared to $382 and he had an estimated net worth of $142 billion.
His net worth has now decreased to $51.2 billion due to his company’s rebranding and the ensuing losses. The CEO of Meta lost $31 billion because of his company in February 2022 alone.
The statistics revealed that Facebook had no increase in monthly users, causing a gradual decline in share prices even if the focus is still on the Metaverse and its numerous applications.
When it comes to its primary market, Meta has not performed as well as in the past, and TikTok has outperformed it on a lot of important metrics. Facebook has once more struggled to keep up with its rivals, which include Netflix, Apple, Amazon, and Google, to mention a few.
The fact that Meta is where the majority of Zuckerburg’s money comes from means that the company’s financial slump has become a headache for him, and the new index will undoubtedly serve as a helpful warning.
Acquisitions and the IPO of Facebook
Facebook increased access to hundreds of colleges and high schools by raising $12.7 million in venture money in the middle of 2005. A year after the social network’s broad public launch, Yahoo! made a $1 billion purchase offer, which Zuckerberg immediately refused.
When Facebook went public in 2012, it became the most lucrative Internet IPO ever thanks to the $16 billion it raised. Facebook acquired the photo-sharing service Instagram in the same year, and the day after the IPO, Zuckerberg wed Priscilla Chan in a surprise ceremony.
Over the years, Meta has purchased numerous businesses, such as Instagram for $1 billion in 2012, WhatsApp for $22 billion in cash and shares in 2014, Oculus VR for $2 billion in 2014, and numerous other businesses ranging from artificial intelligence (AI) to identification systems.
Non Profit Organization Work
With his $100 million commitment to Newark, New Jersey’s schools in 2010, Zuckerberg garnered waves for his charity. Following their donation of 18 million shares of Facebook stock to the Silicon Valley Community Foundation in Mountain View, California, in 2014, the magazine Philanthropy named Zuckerberg and Chan the most philanthropic Americans of the year.
In a letter to their daughter, Max that was published on December 1, 2015, Zuckerberg and Chan announced the founding of the Chan Zuckerberg Initiative in order to “unite people around the world to expand human potential and promote equality for all children in the next generation.”
Zuckerberg and Chan said in the essay that the “first areas of focus will be personalized learning, curing disease, connecting people, and establishing strong communities” and that “we will give 99% of our Facebook shares—currently around $45 billion—during our lives to accomplish this objective.”
When he submitted his college applications, Zuckerberg said he could read and write Latin, ancient Greek, French, and Hebrew.
At a fraternity party during his sophomore year at Harvard, Zuckerberg met Priscilla Chan, a fellow student who would become his wife. In 2003, they started dating.
Chan, who was attending the University of California School of Medicine at the time, was invited by Zuckerberg to move into his rented Palo Alto home in September 2010. Chan and Zuckerberg got married on May 19, 2012, in the garden Zuckerberg, as part of a celebration of her medical school graduation.
Maxima Chan Zuckerberg was born on December 1, 2015, and her parents publicized the news (“Max”). August, their second daughter, was born in August 2017.
Members of The Giving Pledge, Zuckerberg and Chan run the Chan Zuckerberg Initiative, an organization that actively supports charitable causes. In the future, the pair wants to donate 99% of their Facebook shares to the Initiative.
Mark Zuckerberg is an American business magnate, internet entrepreneur, and philanthropist. On February 4, 2004, Mark Zuckerberg created Facebook from his dorm room at Harvard. When he was 22 years old and offered a $1 billion cash buyout by Yahoo in July 2006, he declined.
At the age of 22, he declined a $1 billion cash buyout offer from Yahoo in July 2006. On the Hawaiian island of Kauai, he paid $145 million for about 840 acres.
Zuckerberg met his future wife, fellow student Priscilla Chan, at a fraternity party during his sophomore year at Harvard. They began dating in 2003. On May 19, 2012, Zuckerberg and Chan married in Zuckerberg’s backyard in an event that also celebrated her graduation from medical school.
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