Mark Zuckerberg's Rise to Becoming the World's Fifth Richest

Mark Zuckerberg Net Worth, Businesses, 5th Richest Billionaire

Who says business owners need to be financially well-off to increase their earnings? If you do, then certainly you have not watched the brilliant life of Mark Zuckerberg. His life narrative and Facebook, the idea of Aaron Sorkin, are inextricably linked. The 2010 film The Social Network made him famous. Zuckerberg initiated the social media revolution in 2004 while at Harvard. Facebook is well-known, but what else does Zuckerberg own? Let's look at Mark Zuckerberg's net worth.

Key Highlights 

  • Mark Zuckerberg ranks fifth in the richest person list at $130.2 Billion.

  • Interestingly, Meta's CEO and co-founder joined Facebook from Harvard.

  • The programming for his new website was written in January 2004. He founded "TheFacebook" on February 4, from his undergraduate dorm. Zuckerberg first planned to offer their service just at Harvard, but he expanded to other campuses.

  • Zuckerberg's base salary is $1. Meta stock is his primary source of income.

What is Mark Zuckerberg's Net Worth?

As reported by Forbes, as of January 2024, Zuckerberg is estimated to have a net worth of $130 Billion, making him the fifth richest person in the world. Twenty years after being established, Facebook is still one of the most common social networking services. As the CEO of Facebook, Zuckerberg is much wealthier.

Early Life

Mark Zuckerberg has three siblings and was reared in White Plains. His mother was a psychotherapist, and his father was a dentist. Computers fascinated him early, and he learned to program at twelve. He wrote an Atari BASIC message program for his father to talk to him in his dental practice as a child. He also learned programming by making video games with friends.

Due to his passion and abilities, his parents enrolled him at Phillips Exeter Academy in New Hampshire and hired a private computer instructor. He left Harvard after two years after being accepted.

Business Ventures

Mark Zuckerberg started many firms, but the most famous are listed below:

 Facebook

By March 31, 2021, Facebook had over 2.85 billion monthly active users, becoming an international brand and Meta's most significant asset. Tom Alison's Facebook website and app let users upload and share text, photographs, and multimedia. Facebook users can also chat with one another via Messenger and join interest groups. Facebook recently added a dating service, a News tab, and a Marketplace peer-to-peer e-commerce network to improve its utility.

 Meta

Former Facebook, Inc., Meta houses Zuckerberg's primary enterprises. About 12% of the corporation is his. The company changed its name to Meta in November 2021 to reflect Facebook's potential in the metaverse, a network of linked digital worlds where users can engage via AR/VR. The makeover was opportune because Facebook has legal and PR concerns with their content control criteria and claimed participation in propagating false news.

 Whatsapp 

WhatsApp head Will Cathcart works for Meta. Facebook spent $19 Billion on the firm in February 2014. A separate app called WhatsApp Business was released to businesses in January 2018 to facilitate customer communication. On February 20, WhatsApp had over two Billion users worldwide.

Novi

Novi is Meta's financial venture. The digital wallet, led by David Marcus, lets users transfer and save Facebook's Diem virtual money. The company launched Novi, sans Diem, in the US and Guatemala in October 2021 as a limited test. The test's custodial partner, Coinbase, lets anyone in the two countries send and hold Paxos stablecoin via Novi. 

 CZI

Mark Zuckerberg and Priscilla Chan, a couple's 99% of Facebook shares they'll sell to fund the group. Between 2015 and 2020, CZI invested $150 million, granted $2.7 Billion, and provided over $3 million in employee philanthropy. CZI's Live the Mission benefit matched these donations.

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Salary and Investments

Meta pays Mark Zuckerberg a meagre $1 base salary annually. Additionally, the corporation doesn't provide him any bonuses or equity awards. Instead, according to Meta's most recent proxy filing, his $27.1 million total pay from Meta for 2022 is "almost entirely" made up of expenses for personal security and private aircraft use.

In 2022, Meta invested over $14.83 million in security for Zuckerberg on his estates and when he travelled. This includes a $10 million yearly pre-tax allowance for Mr. Zuckerberg to "pay for extra expenses" for his and his family's safety, including staff, tools, services, and house modifications. 

In February, the corporation agreed to raise this allowance to $14 million. Additionally, Meta has fully leased a private jet that Zuckerberg has owned since March 2022.

Read Also: Three Times Highest-Paid NBA Player Stephen Curry's Net Worth

How Old Was Mark Zuckerberg When He Became a Billionaire?

2012 was a remarkable year for Zuckerberg when he made Facebook's shares go public and became the youngest millionaire in no time. At 23, he was young. This outstanding achievement was noted in business history.

The Real Origin Story Behind Finding Facebook

Mark Zuckerberg founded Facebook while a Harvard student. He created "Facemash" in 2003 to help students judge each other's beauty. Privacy concerns forced the program to end soon after.

Zuckerberg began "The Facebook." after Facemash's launch. When it began in February 2004, only Harvard students could participate. Website users could contribute photographs, communicate with classmates, and create unique profiles.

Facebook grew popular at Harvard and spread to other universities. In 2005, the website became "Facebook" and was accessible to anybody over 13 with a valid email address.

Keep in mind that Zuckerberg started before Facebook. He created Synapse in high school to analyze users' musical likes and create personalized playlists. The software learned a user's preferences by tracking songs they listened to and skipped. Microsoft and AOL wanted to buy this program when it caught their notice.

While at Harvard, Zuckerberg created Coursematch, a service that lets students choose classes based on their peers' interests.

After all these experiences and endeavours, Zuckerberg created a social networking site to connect people and facilitate conversation. That was Facebook's start. The 12-year-old social network is now investing in VR and AI.

Mark Zuckerberg Ranking as the World's Richest Person?

On December 1, 2023, Mark Zuckerberg, one of the most significant gainers, shot up to the fifth rank, moving from the seventh richest person in the world. He now has more wealth than Bill Gates, who held the title for a long time. His net worth is valued at $130 Billion.

Where Does Mark Zuckerberg's Wealth Come From?

A Chicago computerized bulletin board existed in 1978, before Facebook. Another social networking site, Six Degrees, was founded in 1996. Facebook was revolutionary because it constantly innovated and altered to fulfil user needs while embracing its massive growth. In contrast, several early-2000s platforms used MBA-style forecasting and planning to inhibit creativity.

  • Zuckerberg was a visionary who listened to his people and produced programs that met their needs while earning a profit. He opened Facebook to the public in September 2006 after it debuted in 2004 as a private, university-only concept. He started Facebook Marketplace in 2007 to offer goods and services.

  • That year, Facebook's Application Developer released Pages to welcome businesses and linked the network to other websites. 2008 saw the start of Facebook Chat, a service for instant messaging. By summer's end, June 2009 saw Farmville sporting over ten million users.

  • As Zuckerberg was more than just a computer programmer, Facebook's economic tact could be revolutionary. His degree in psychology from Harvard makes sense, as his platform does more than connect people – it allows them to share intimate moments and information about each other's relationships, forming stronger connections through likes, comments or posts.

  • Zuckerberg's primary source of income was from Facebook – originally "TheFacebook." The founder collaborated with roommates at Harvard to bring it to life. Before it, there was FaceMash, a website where students could compare and vote on their favourite pictures displayed side by side.

  • Zuckerberg created Synapse when he was at Phillips Exeter Academy. Microsoft and AOL were interested in Synapse's use of artificial intelligence to understand customers' tastes in music.

All of these ventures received far less financing than Facebook. In June 2004, PayPal partner Peter Thiel invested $500K in Facebook. This decision earned the firm $13 million in venture capital investment.

Who Is Richer? Mark Zuckerberg Vs Elon Musk?

2018 was an excellent year for Elon Musk's fortune, one of the most significant winners among Billionaires. As Bloomberg's Billionaires Index shows, his net worth jumped from $137 Billion on January 2. Mark Zuckerberg, the founder of Meta, did nearly as well. He increased his worth from $45.6 Billion to around $128 Billion.

Meta Stock Price Fall: Mark Zuckerberg Sold Meta Shares Worth $428 Million

Last year, Mark Zuckerberg, the founder of Meta, sold his company's shares on a daily basis throughout November and December. He managed to sell an impressive 1.28 million shares, resulting in a substantial collection of $428 million. Meanwhile, the price of Meta shares skyrocketed by 194%. Mark Zuckerberg retains approximately 13% ownership of Meta shares, contributing to his estimated fortune of $130 Billion. He holds the impressive fifth spot on Bloomberg's Billionaires Index.

When selling stocks from Meta's boss, it's essential to remember the federal capital gains tax of around 24% and an extra 13.3% state tax in California, where Zuckerberg has a $37 million estate. 

Benioff Sells Meta Stock

In the second half of 2023, Zuckerberg's IT colleague Marc Benioff sold shares virtually daily. The Salesforce Inc. co-founder sold 15,000 shares every day, or over $3 million, worth $475 million.

Meta Shares Plummet

2022 saw Meta's shares fall to a seven-year low due to the billion-dollar metaverse blunder by Zuckerberg. 2023 saw the share price recovering again after executives launched an enormous cost-cutting program that involved thousands of layoffs and redirected assets to artificial intelligence. The 'Magnificent Seven' tech stocks that boosted the market last year include Meta.

Zuckerberg Binge-Buys

Zuckerberg's selling binge sparked a brief drop in share prices in December 2018 but ended the month up over 5%. Last December, "Wired" reported that Zuckerberg was building a $100 million Kauai property. Reports say the structure contains 30 bedrooms, food and energy, and an underground bunker.

Final Words

So there you have it - Meta co-founder Zuckerberg's base salary. Zuckerberg makes millions out of Facebook; he has also invested more money in various sectors and donated to charitable institutions. He has significantly changed our lives, and we interact with one another differently. His life story is very motivating and acts as a constant reminder that everything in this world can be realized with sheer determination.

FAQs

How did Zuckerberg succeed in business?

Mark Zuckerberg, Dustin Moskovitz, and Eduardo Saverin started Facebook for Harvard undergraduates at twenty. Facebook debuted on February 4, 2004. So, the company became successful immediately and currently has over 2 billion users worldwide.

At what age did Mark Zuckerberg form Facebook?

You may be surprised to know that Mark Zuckerberg was only 19 years old when he implemented his strategies and built Facebook.

What did he do before Mark Zuckerberg became wealthy & successful?

Mark Zuckerberg had a professional background when he was 19 years old and became a co-founder and CEO of Facebook. He was even taught computer programming and coding as a young child.

What has Mark Zuckerberg invented?

Several people, including Mark Zuckerberg, founded Facebook. Several businessmen claim to have helped build one of the world's most successful social networking websites. However, many disagree on the genesis of one of the world's most prominent social networking networks.

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18 Jan, 2024

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