Mark Zuckerberg’s Net Worth: How Much Money Does He Have?
Mark Zuckerberg’s net worth is anticipated to exceed $70 billion as of July 2022. Not bad for a man his age, 36, do you think?
Mark Zuckerberg is the creator and CEO of Facebook, the most popular social media site that has swept the globe. One of the wealthiest persons in the world, Zuckerberg is also the youngest person to be listed among the top 20 wealthiest people.
Mark Zuckerberg’s Net Worth
Mark Zuckerberg is a 70 billion dollar American technology entrepreneur and philanthropist. Mark is the youngest of the world’s top 100 wealthiest persons. He is the youngest among the top 30 by more than a decade. Mark Zuckerberg has spent much of the last decade as one of the world’s wealthiest people.
Unsurprisingly, most of Mark’s riches are related to his Facebook shares. Mark presently controls over 400 million total shares of Facebook, which are divided into numerous classes with varying voting rights.
He controls around 12 million Class A shares of Facebook and 365 million Class B shares, accounting for approximately 81 percent of all B shares. Mark has 53 percent voting power in the corporation, thanks to the Class B super-voting shares.
Mark technically owns co-founder Dustin Moskovitz’s Class B voting rights, giving him approximately 58 percent of the company’s overall voting power.
Mark Zuckerberg’s Early Life
Mark Zuckerberg was born in White Plains, New York, on May 14, 1984. His parents are mental health professionals; his father is a dentist, and his mother is a therapist. His birthday is May 14.
Mark and his three sisters, Randi, Donna, and Arielle, were brought up in Dobbs Ferry, New York, a small community in Westchester County and close to the north of Midtown Manhattan.
After graduating from Ardsley High School, he continued his education at the prestigious Phillips Exeter Academy in Exeter, New Hampshire. Mark Zuckerberg was an exceptional student recognized for his scientific accomplishments on multiple occasions.
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Mark Zuckerberg’s Career
Zuckerberg created Facebook from his Harvard dorm room on February 4, 2004. An early source of inspiration for Facebook could have been Phillips Exeter Academy, the prep school where Zuckerberg graduated in 2002.
Initially, Facebook was solely available to Harvard students. It spread to other universities, starting with Columbia, New York University, Stanford, Dartmouth, Cornell, University of Pennsylvania, Brown, and Yale.
This is where the site’s popularity grew, and it eventually went global, with 500 million members by 2010. The staff expanded dramatically once the office relocated from Harvard to California.
Nowadays, Facebook serves as a center for users to keep up with their friends’ activities and is one of the most important news sources on the internet.
In early 2018, Cambridge Analytica collected millions of Facebook users’ data without their consent for primarily political advertising.
The most extensive data leak in Facebook history forced Mark Zuckerberg to appear before Congress to answer questions about how to secure Facebook’s handling of user data.
Mark Zuckerberg’s Harvard
By the time he arrived at Harvard, Zuckerberg had established himself as a programming prodigy. He majored in both psychology and computer science. He was a fraternity Alpha Epsilon Pi and the Kirkland house member.
During his sophomore year, Zuckerberg created the application CourseMatch. Users might form study groups and choose classes depending on the choices of other students. Not long after, he invented Facemash, which allowed users to select the most attractive person from a series of images.
The site flooded Harvard’s servers the first weekend it was up and running, forcing the institution to shut it down. In January 2004, Zuckerberg began building code for a new website the following semester.
On February 4, 2004, Zuckerberg, along with friends Dustin Moskovitz, Chris Hughes, and Eduardo Saverin, founded “Thefacebook,” located initially at thefacebook.com, from his Harvard dorm room.
Zuckerberg dropped out of Harvard in his second year to concentrate on Facebook. In 2017, he was awarded an honorary degree.
Mark Zuckerberg’s Salary
One dollar is Mark Zuckerberg’s annual compensation. Not a typo, that. Like Zuckerberg, many business leaders want to underpay themselves to maximize company earnings.
The source of the executive’s wealth is the company’s stock holdings, which appreciate as the business maximizes profits. Executives like Larry Page, Eric Schmidt, and Sergey Brin each make under $1 a year in compensation!
Mark Zuckerberg’s Legal Issues
Harvard students Divya Narendra, Cameron Winklevoss, and Tyler Winklevoss sued Zuckerberg, claiming he deceived them into believing he would assist them in constructing their website idea, HarvardConnection.com, a social network that was subsequently renamed ConnectU.
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Several lawsuits followed. The dispute was settled on June 25, 2008, with 1.2 million common shares and cash settlements of $20 million. If the shares are still in existence today, they are worth over $200 million.
The Winklevoss brothers sold at least some of their shares to fund their Bitcoin investments. They own so much Bitcoin that their total crypto assets were valued at more than $1 billion in December 2017.
On April 10 and 11, 2018, Zuckerberg began appearing before the US Senate Committee on Commerce, Science, and Transportation on Facebook’s use of personal data in connection with the Facebook-Cambridge Analytica data breach.
The whole thing, according to Zuckerberg, was a breach of trust between Aleksandr Kogan, Cambridge Analytica, and Facebook.
Mark Zuckerberg’s Personal Life
Zuckerberg met Priscilla Chan at a frat party during his second year at Harvard. Since 2003, they’ve dated. Chan, a UCSF medical student, moved into Zuckerberg’s Palo Alto mansion in September 2010.
On May 19, 2012, they married on his estate to celebrate her medical school graduation. Zuckerberg said they were expecting a girl on July 31, 2015, and Chan had miscarried three times.
Maxima Chan Zuckerberg was born on 12/1/15. They revealed their daughter’s Chinese name in a Chinese New Year video. August is their second daughter. Beast, their Puli, has nearly 2 million Facebook fans.
In 2017, Zuckerberg and his wife went on a cross-country tour to learn more about Facebook’s two billion users. He met with farmers, business owners, and the 2015 shooting site, Mother Emanuel.
Zuckerberg raised a Reform Jew and eventually declared an atheist but said in 2016: “Religion is fundamental.”
Frequently Asked Questions
What Faith Practised by Mark Zuckerberg?
Mark Elliot Zuckerberg was born in White Plains, New York, to a psychiatrist and a dentist. His three sisters (Arielle, entrepreneur Randi, and writer Donna) were raised in a Reform Jewish home in Dobbs Ferry, New York.
What Did Mark Zuckerberg Accomplish at the Age of 12?
Zuckerberg’s interest in computers began when he was about 12 years old when he used Atari BASIC to design a messaging application called “Zucknet.” His father utilized the application in his dentist business so the receptionist wouldn’t have to yell across the room when a new patient arrived.