Mark Zuckerberg Net Worth 2024

What is Mark Zuckerberg’s net worth and wage?

Mark Zuckerberg is an American know-how entrepreneur and philanthropist who has a net worth of $176 billion. Mark Zuckerberg has spent a lot of the final decade as one of the richest people in the world. Out of the highest 100 richest folks on this planet, Mark is the youngest. Out of the highest 30, he is the youngest by greater than a decade. Perhaps not surprisingly, The overwhelming majority of Mark’s fortune is attributable to his shares in Facebook. Mark at present owns round 400 million complete shares of Facebook, damaged up into varied lessons which have totally different voting privileges. He owns round 12 million Class A shares of Facebook and 365 million of Class B shares, roughly 81% of all of the B shares. Through these Class B super-voting shares, Mark has 53% voting rights over the corporate. Technically, Mark additionally controls co-founder Dustin Moskovitz’s Class B voting rights, so Mark has round 58% of the corporate’s complete voting energy.

Wealth Milestones

Mark Zuckerberg’s net worth topped $100 billion for the primary time on August 7, 2020. In late 2021, his net worth peaked at $137 billion, which made him the third-richest individual on the planet.

On January 1, 2022, his net worth was $126 billion. At that stage, he was the fifth richest individual on this planet. Unfortunately, over the subsequent a number of months, Mark’s fortunes tumbled as Facebook’s inventory value dropped 70% from round $340 a share to $100. In late April, his net worth stood at $65 billion, down $60 billion from early January. By late October his net worth stood at $37 billion, a $100 billion drop from a yr earlier and an $89 billion from from January 1. No different billionaire on this planet had misplaced that a lot cash in the identical time interval. As a results of this wealth evaporation, Mark slid from the world’s third richest individual to #30.

As it turned out, his downturn in fortune was momentary. In 2023 Mark’s net worth elevated considerably, ultimately regaining all of its earlier losses.

On February 2, 2024, with Facebook’s inventory hitting an all-time excessive, Mark’z net worth hit $170 billion. That was the richest he has ever been as much as that time.

Early Life

Mark Elliot Zuckerberg was born in White Plains, New York, on May 14, 1984. His father, Edward, is a dentist, and his mom, Karen, is a psychiatrist. He has three sisters, Randi, Donna, and Arielle. Mark and his sisters grew up in Dobbs Ferry, New York, in Westchester County. When he made his Bar Mitzvah at 12, it was “Star Wars” themed.

In center college, Zuckerberg started utilizing computer systems and writing software program. His father taught him BASIC Programming within the Nineties and later employed software program developer David Newman to tutor him privately.

Zuckerberg attended Ardsley High School for his freshman and sophomore years. For his junior and senior years, he attended Phillips Exeter Academy, the place he excelled academically and received prizes in physics, math, astronomy, and classical research. He was captain of Phillip Exeter Academy’s fencing crew. While in highschool, he took a graduate-level course at Mercy College in BASIC. He additionally constructed a software program program he referred to as “ZuckNet” that linked all of the computer systems within the Zuckerbergs’ house with those in his dad’s dental apply. It operated very similar to AOL’s Instant Messenger, which debuted the yr after Mark constructed ZuckNet. Zuckerberg additionally constructed a music participant referred to as the Synapse Media Player in highschool. The media participant discovered the person’s listening habits. AOL tried to purchase Synapse and rent Zuckerberg. Microsoft additionally bid a number of million {dollars} for Synapse and tried to rent Zuckerberg. He did not promote and enrolled at Harvard within the fall of 2002.

Harvard

Zuckerberg had a popularity as a programming prodigy by the point he bought to Harvard. He studied psychology and pc science. He was a member of the Alpha Epsilon Pi fraternity and Kirkland House. Zuckerberg wrote this system CourseMatch throughout his sophomore yr. Users might make class choices based mostly on the alternatives of different college students in addition to type research teams. Not lengthy after, he created Facemash, which let customers choose the best-looking individual from a gaggle of images. The website so overwhelmed Harvard’s servers the primary weekend it was dwell that the college shut it down.

The following semester, in January 2004, Zuckerberg started writing code for a brand new web site. On February 4, 2004, Zuckerberg launched “Thefacebook,” initially by the area thefacebook.com, from his Harvard dorm room with classmates Dustin Moskovitz, Chris Hughes, and Eduardo Saverin.

Zuckerberg dropped out of Harvard in his sophomore yr in an effort to work on Facebook. He acquired an honorary diploma in 2017.

Facebook

Zuckerberg, Moskovitz, and a few associates moved to Palo Alto, California, the place they leased a small home that served as an workplace for Facebook within the spring of 2004.  Over the summer season, Zuckerberg met Peter Thiel, who invested within the firm. Initially, the group deliberate to return to Harvard however determined to stay in California. They had already turned down gives by main firms to purchase the corporate. In April 2009, Zuckerberg sought the recommendation of former Netscape CFO Peter Currie about financing methods for Facebook. On July 21, 2010, Zuckerberg reported that the corporate reached the five hundred million person mark. Of course, right this moment, Facebook is a gigantic social community that has made Mark Zuckerberg one of many richest folks on this planet.

Facebook IPO

Facebook IPO’d on May 18, 2012, at roughly $38 a share. Mark owns 400 million shares of Facebook. That means on the IPO, he ended the day with a paper net worth of round $15 billion.

Salary

Mark Zuckerberg’s wage is $1 per yr. That shouldn’t be a typo. Many executives like Zuckerberg select to pay themselves low salaries in an effort to enhance the corporate’s earnings as a lot as doable. When the corporate maximizes earnings, it will increase the general worth of their inventory holdings which is the place the chief’s true wealth comes from. Executives like Eric Schmidt, Larry Page, and Sergey Brin every earn solely $1 per yr in wage!

Philanthropy

Mark has pledged to present away 99 % of his wealth throughout his lifetime. In September 2017, he introduced a plan to usually dump chunks of his shares to fund his basis, the CZI (Chan-Zuckerberg Initiative). His 2018 share gross sales generated $5.3 billion price of proceeds. In 2019, he bought $1.86 billion price of Facebook shares.

Legal Issues

Harvard college students Divya Narendra, Cameron Winklevoss, and Tyler Winklevoss introduced a lawsuit towards Zuckerberg, stating he deliberately made them imagine he would assist them construct their web site concept, HarvardConnection.com, a social community that was later renamed ConnectU. Numerous lawsuits adopted. The case was settled on June 25, 2008, leading to a settlement of 1.2 million widespread shares awarded to them plus payouts of $20 million in money. If these shares are nonetheless owned right this moment, they’re price north of $200 million. At least some portion of these shares have been bought by the Winklevoss brothers to fund their investments in Bitcoin. They personal a lot Bitcoin that in December 2017, their mixed crypto property have been price north of $1 billion.

On April 10 and April 11, 2018, Zuckerberg started testifying earlier than the United States Senate Committee on Commerce, Science, and Transportation concerning the utilization of non-public information by Facebook in relation to the Facebook–Cambridge Analytica information breach. Zuckerberg referred to as the entire affair a breach of belief between Aleksandr Kogan, Cambridge Analytica, and Facebook.

Personal Life

Zuckerberg said that he might learn and write French, Hebrew, Latin, and historic Greek when he stuffed out his college purposes.

Zuckerberg met his future spouse, fellow scholar Priscilla Chan, at a fraternity get together throughout his sophomore yr at Harvard. They started courting in 2003.

In September 2010, Zuckerberg invited Chan, then a medical scholar on the University of California, to maneuver into his rented Palo Alto home.  On May 19, 2012, Zuckerberg and Chan married in Zuckerberg’s yard in an occasion that additionally celebrated her commencement from medical college. On December 1, 2015, Zuckerberg introduced the delivery of their daughter, Maxima Chan Zuckerberg (“Max”). They welcomed their second daughter, August, in August 2017. In March 2023, the couple welcomed their third daughter, Aurelia.

Zuckerberg and Chan are members of The Giving Pledge and lively philanthropists by their basis, the Chan Zuckerberg Initiative. The couple intends to ultimately donate 99% of their Facebook shares to the Initiative.

In 2022, Zuckerberg took up each Mixed Martial Arts and Brazilian Jiu-Jitsu. While competing at white belt in a BJJ event in May 2023, Mark received each a silver and gold medal in gi and no gi. Also, in 2023, it was reported that Mark was coaching to get his pilot’s license.

Real Estate

Zuckerberg and Chan personal roughly $200 million price of actual property and land around the globe. Some of their most notable actual property property embrace 1,400 acres in Hawaii, a number of properties in Palo Alto, and a townhouse in San Francisco.

Mark Zuckerberg’s most important house the place he and his family dwell is a modest 5,000-square-foot house in Palo Alto, which he bought in 2011 for $7 million. But he additionally owns the properties that encompass this “modest” house, creating a non-public compound. In 2012, Zuckerberg started shopping for up the 4 surrounding properties to his house. In complete, he spent $43 million shopping for up surrounding properties. He then leased the properties again to their earlier house owners with preliminary plans to ultimately demolish and rebuild them. However, metropolis officers rejected his plan, so he submitted a brand new plan to renovate two of the properties and rebuild the opposite two as single-story properties.

In 2013, he paid $10 million for a 5,500-square-foot townhouse in San Francisco. The house was inbuilt 1928 and sits on a 9,800-square-foot lot with 70 feet of sidewalk frontage. He spent greater than $1.6 million renovating the home.

In 2014, Zuckerberg purchased two properties in Kauai in Hawaii for $100 million. These properties span 750 acres throughout an remoted stretch of a Hawaiian seashore. In 2017, he bought one other 89 acres close by for greater than $45 million. In January 2022, he purchased a further 100 acres, increasing his footprint in Kauai as much as 1,400 acres.

In 2018, Zuckerberg dropped $59 million on two adjoining non-public waterfront estates on Lake Tahoe. Between the 2 properties, Zuckerberg owns 600 feet of Lake Tahoe non-public waterfront.