Mark Zuckerberg Net Worth

Introduction: 

Mark Zuckerberg Net Worth, How did the American technology entrepreneur accumulate his wealth? Read on to find out more about Mark Zuckerberg Net Worth and his career.

Mark Zuckerberg Early Life

He is an American technology entrepreneur. Mark Zuckerberg started writing software and using computers in middle school and his father taught him Atari BASIC Programming in the 1990s, and later hired software developer David Newman to tutor him privately. 

However, Zuckerberg took a graduate course in the subject at Mercy College near his home while still in high school.

Mark Zuckerberg Career

Mark Elliot Zuckerberg was born on the 14th of 1984 in White Plains, New York. His first company Intelligent Media Group built Synapse Media Player, a music player using artificial intelligence to learn the user’s listening habits. 

However, AOL and Microsoft tried to purchase Synapse Media Player from him for several million dollars and recruit Zuckerberg to their companies, but Zuckerberg went to turned them both down and instead went to Harvard in September 2002. 

He created Facebook while attending Harvard with fellow classmates Dustin Moskovitz, Chris Hughes and Eduardo Saverin. Zuckerberg launched Facebook on February 4, 2004 from his Harvard dormitory room. 

However, he kept Facebook at harvard until with the help of Moskovitz he decided to expand Facebook to other schools. Zuckerberg moved to Palo Alto, California, with Moskovitz and friends to establishing an office in a house for the Facebook business.

Mark Zuckerberg Net Worth

As of today, Mark Zuckerberg Net Worth is $80.7 Billion while his salary is $1B per year. Mark Zuckerberg Net Worth is acquired from his career as a technology entrepreneur.

But, many executives like Zuckerberg choose to pay themselves low salaries in order to increase the company’s profits as much as possible. 

When the company maximizes profits it increases the overall value of their stock holdings which is where the executive’s true wealth comes from. Executives like Eric Schmidt, Larry Page and Sergey Brin each earn only $1 per year in salary!.

Facebook IPO’d on May 18, 2012 at roughly $38 dollars a share. Mark owns 400 million shares of Facebook. Mark has pledged to give away 99 percent of his wealth during his lifetime. 

He announced a plan to regularly sell of chunks of his shares to fund his foundation, the CZI ‘Chan-Zuckerberg Initiative’ In September 2017. 

Zuckerberg owns $175 million worth of real estate and land, including 700 acres in Hawaii, several homes in Palo Alto and a townhouse in San Francisco. In 2017 Facebook had revenue of $40 billion.

The harvard students Tyler Winklevoss , Cameron Winklevoss and Divya Narendra brought a lawsuit against Zuckerberg stating he intentionally made them believe he would help them build their website idea, HarvardConnection.com, a social network that was later renamed ConnectU. 

The case was settled on June 25, 2008, resulting in a settlement of 1.2 million common shares awarded to plus payout of $20 million in cash and if those shares are still possessed, they are worth $200 million. 

At least some portion of those shares were sold by the Winklevoss brothers to fund their investments in Bitcoin. They own so much Bitcoin in December 2017, their combined crypto assets were worth north of $1 billion.

Summary: 

Mark Elliot Zuckerberg is an American technology entrepreneur. His first company Intelligent Media Group built Synapse Media Player, a music player using artificial intelligence to learn the user’s listening habits. 

Zuckerberg launched Facebook on February 4, 2004 from his Harvard dormitory room.

As of 2020, Mark Zuckerberg’s net worth is $80.7 Billion.