American media mogul, internet businessman, and philanthropist Mark Elliot Zuckerberg. He is renowned for co-founding Facebook, a social networking platform, and Meta Platforms, the corporation that owns it (formerly known as Facebook, Inc.), of which he serves as chairman, chief executive officer, and majority shareholder.
While a student at Harvard University, Eduardo Saverin, Andrew McCollum, Dustin Moskovitz, and Chris Hughes were his roommates when they founded Facebook in February 2004. The website was first started on a few college campuses, but it quickly gained popularity and eventually reached one billion users by 2012. In May 2012, Zuckerberg went public with the business and the majority of the shares. He was the youngest self-made billionaire in the world in 2007 when he was only 23 years old. Zuckerberg’s net worth was $74.5 billion as of March 2022, according to Forbes’ Real-Time Billionaires.
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Early life
On May 14, 1984, Mark Elliot Zuckerberg was born in White Plains, New York. He is the son of dentist Edward Zuckerberg and psychiatrist Karen (née Kempner). He was raised in a Reform Jewish home in Dobbs Ferry, New York, together with his three sisters, Arielle, Randi, an entrepreneur, and Donna, a writer. Jewish immigrants from Poland, Germany, and Austria made up his great-grandparents. He transferred from Ardsley High School to Phillips Exeter Academy after his senior year. He led the fencing squad as captain.
Software development
Early years
In middle school, Zuckerberg started programming computers and used them. He developed a program in high school that allowed all the computers between his home and his father’s dentistry practice to connect with one another. The Synapse Media Player was a music player that Zuckerberg worked on while still a high school student. It was posted to Slashdot[18] and obtained a 3 out of 5-star rating from PC Magazine. The device used machine learning to understand the user’s listening preferences. [19] According to Zuckerberg’s portrayal in the New Yorker, “Many children engaged in online gaming. These were made by Mark.”
College years
The New Yorker stated that Zuckerberg had established a “reputation as a programming prodigy” by the time he started taking studies at Harvard in 2002. He was a member of Kirkland House and Alpha Epsilon Pi while studying psychology and computer science. He created an application called CourseMatch in his sophomore year that helped users create study groups and let them choose classes based on the preferences of other students. A short while later, he developed another tool that he originally called Facemash and allowed students to pick the most attractive individual among several photographs. Then-Zuckerberg roommate Arie Hasit explained:
The names and images of every person who resided in the student residences were listed in volumes we dubbed Face Books. He first created a website and added two images or images of two men and two women. Visitors to the website had to vote for who they thought was “hotter,” and a ranking was determined by the results.
The website went live over the weekend, but the college had to take it down by Monday morning because of its popularity, which had overloaded one of Harvard’s network switches and made it impossible for students to access the Internet. Additionally, a lot of students expressed dissatisfaction with the unauthorized use of their images. Zuckerberg issued a public apology, and the student newspaper published an article describing his website as “totally wrong.”
Personal Life
When Zuckerberg submitted his college applications, he claimed to be able to read and write Latin, French, Hebrew, and ancient Greek.
During his second year at Harvard, Zuckerberg attended a fraternity party where he first met Priscilla Chan, his future wife. The two started dating in 2003.
Chan, who was then a medical student at the University of California, was invited by Zuckerberg to come into his rented Palo Alto home in September 2010. Chan and Zuckerberg wed on May 19, 2012, in the garden of Zuckerberg, at a ceremony that also honored Chan’s medical school graduation. Maxima Chan Zuckerberg was born on December 1, 2015, according to Zuckerberg (“Max”). In August 2017, they had their second daughter, August.
Through their foundation, the Chan Zuckerberg Initiative, Zuckerberg and Chan are engaged philanthropists and signatories to The Giving Pledge. In the long run, the pair wants to give the Initiative 99 percent of their Facebook shares.
Real Estate
Chan and Zuckerberg have global real estate and land holdings totaling about $200 million. One thousand four hundred acres in Hawaii, multiple houses in Palo Alto, and a townhouse in San Francisco are some of their most notable real estate holdings.
The primary residence of Mark Zuckerberg and his family is a modest 5,000-square-foot Palo Alto home that he bought in 2011 for $7 million. However, he also owns the houses that are located close by, forming a secure enclave. 2012 saw the start of Zuckerberg’s acquisition of the four properties that surround his house. He invested $43 million in total to acquire the nearby properties. Then, with initial plans to someday destroy and rebuild them, he leased the residences back to their prior owners. He presented a fresh proposal to repair two of the homes and build the other two as single-story dwellings after the city officials rejected the first one.
He purchased a 5,500-square-foot condominium in San Francisco for $10 million in 2013. The house has 70 feet of sidewalk frontage and a 9,800 square foot lot. It was built in 1928. He renovated the home for more than $1.6 million. $65,000 reportedly went on upgrading the kitchen and one bathroom.
Zuckerberg spent $100 million on two properties in Kauai, Hawaii, in 2014. These homes cover a 750-acre area along a remote Hawaiian beach. He spent more than $45 million on another 89 acres nearby in 2017. He acquired an additional 100 acres in January 2022, bringing his total footprint on Kauai to 1,400 acres.
On two adjacent private waterfront properties on Lake Tahoe, Zuckerberg spent $59 million in 2018. Zuckerberg owns 600 feet of exclusive Lake Tahoe coastline between the two sites.
Net Worth Details
American technology entrepreneur and philanthropist Mark Zuckerberg have a net worth of $70 billion. One of the richest people on the planet for a significant portion of the past ten years has been Mark Zuckerberg. Mark is the youngest of the top 100 richest persons in the world. He is the youngest among the top 30 by more than a decade.
On May 18, 2012, Facebook went public at a price of about $38 per share. 400 million Facebook shares are owned by Mark. That indicates that at the IPO, he had a paper net worth of about $15 billion at the end of the day.
In his lifetime, Mark has promised to donate 99 percent of his money. He disclosed in September 2017 that he would sell off portions of his shares on a regular basis to support his CZI foundation (Chan-Zuckerberg Initiative). His 2018 share sales brought in $5.3 billion in revenue. He sold $1.86 billion of Facebook shares in 2019.
Salary
One dollar is Mark Zuckerberg’s annual compensation. Not a typo, that. Similar to Zuckerberg, many business leaders want to underpay themselves in order to maximize company earnings. The true source of the executive’s wealth is the company’s stock holdings, which appreciate in value as the business maximizes profits. Executives like Larry Page, Eric Schmidt, and Sergey Brin each make under $1 a year in compensation!
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