Mark Zuckerberg is one of the most well-known entrepreneurs in the world. He is most notable for founding the social media giant, Facebook. As of May 2020, he is the chairman,CEO and founder of the company, and his total net worth is estimated to be around $67.3 billion. This begs the question – does Mark Zuckerberg still own Facebook? The answer is yes.
In 2004, Zuckerberg founded Facebook with a few friends and fellow Harvard students, and has since grown Facebook from a dorm room project into a major global enterprise. During the rise of Facebook, Zuckerberg has been controlling the Facebook. He owns a majority of voting shares, and in April 2019, he sold 35.3 million shares, valued at $5.84 billion. This further increased his majority stake in the company, giving him even more control.
This is seen as a positive move for Facebook. Experts believe that this kind of ownership and long-term vision empowers Mark Zuckerberg to steer the company in a direction that will benefit its users. In turn, this has seen Facebook grow into one of the most visited websites in the world. Zuckerberg has used his influence to transform the way people interact and communicate, while continuing to grow the company financially.
A reason why Zuckerberg has been so successful is his willingness to innovate and push boundaries. He has concentrated the majority of his wealth into Facebook to ensure that it will continue to expand, in spite of the fact that he already possesses vast amounts wealth. This indicates his dedication to his business, and his commitment to ensure that Facebook remains relevant in a constantly evolving world.
Given the success of Facebook and Zuckerberg, it remains important to consider his unprecedented power. Throughout the years, there have been debates surrounding the effectiveness of Zuckerberg’s leadership, and criticism of the ways in which the company has been managed. It is no doubt that his flagship company has been consistently disregarding the privacy of its users. Any disruption in the status quo of the company could result in a major shake-up in the industry, yet the power lies in the controls of one man.
Privacy policies of Facebook
One key issue when considering whether Mark Zuckerberg still owns Facebook, is the privacy regulations of the company. Under his control, Facebook has not been following best-practice when it comes to data privacy and manipulation. While the company introduced a stringent privacy policy in 2020 in response to public backlash, the fact remains that user data is still being collected by Facebook, and is potentially being used in a way that many users may not be comfortable with.
In light of the recent Cambridge Analytica data scandal, in which millions of Facebook users’ private information was used to influence political dialogue, it has become apparent that the company should have better safeguards in place to protect user data. Zuckerberg has since been taken to court for the case, and has had to pay out large sums of money in compensation.
As a result, there is still a prevailing sentiment of public distrust towards Mark Zuckerberg, and his control of Facebook. It is clear that data privacy must be improved if Zuckerberg is to retain ownership of the company, and he must learn to be more transparent in a bid to regain public confidence.
Zuckerberg’s Vision
It is important to note that Zuckerberg has a vision for Facebook that goes beyond an online sharing platform. It is his mission for the company to strive for global connectivity and the improvement of human infrastructure. He has been striving for Facebook to extend its impact beyond simply bringing people closer, but to also improve the world through scientific progress. With this in mind, it is easy to understand why Zuckerberg is still passionate about owning Facebook, and why he has poured so much of his wealth into the company.
To keep his ownership alive, Zuckerberg has also announced plans to create a new type of ownership structure. This will be a Limited Liability Company (LLC), and will still keep the majority of shares in Zuckerberg’s control. However, it is also expected to limit his abilities to change the company’s strategy or direction, keeping him at the helm of the company but not as a sole owner.
Ultimately, as long as Mark Zuckerberg owns Facebook, he can continue building on his vision and changing the way that people use the internet. However, with the numerous scandals surrounding the company, it has become clear that better regulation and oversight is necessary in order to ensure that Zuckerberg is still able to retain control and continue to develop the company’s products and services.
Conclusion
Despite all his successes, Mark Zuckerberg’s tenure as CEO and founder of Facebook has generated controversy. As of May 2020, he still owns the majority stake in the company, but has had to make moves to limit his individual powers, as well as to improve user privacy. While he has made great progress thus far, it remains to be seen whether he will still own Facebook in the future.
