The Life and Work of Mark Zuckerberg
Mark Elliot Zuckerberg is an American technology entrepreneur and philanthropist, best known as the co-founder and CEO of social media giant Facebook. His estimated net worth in 2020 is 85.9 billion US dollars and he is one of the world’s richest people.
Zuckerberg was born May 14, 1984, in Dobbs Ferry, New York. His parents named him after his father, Edward Zuckerberg, who ran a dental practice in New York. Mark’s mother, Karen, is a psychiatrist, and his sister is Randi, an executive at Zuckerberg Media. He also has three other siblings. In high school, he excelled in various computer programming classes and earned himself a reputation in his class as a computer prodigy.
After attending Ardsley High school, Zuckerberg received a scholarship to attend Harvard University. It was there, in 2004, that he, along with three other roommates, developed “The Facebook,” which later became Facebook. Of the four, Zuckerberg is currently the only one left at the company.
From its early days, the site grew extraordinarily fast, and Zuckerberg sought financing from venture capital firms in California. Eventually, Facebook was publicly traded on the stock exchange.
Zuckerberg is outspoken about his desire to make sure that everybody has access to the internet. He has personally championed “net neutrality” proposals that could help this happen. He also supports universal service and “free basics by Facebook” in countries like India, which would enable them to access basic internet services for free.
But the road to success has not been easy. The company has received negative attention over its privacy and data security policies, lawsuits and public controversies. Despite these issues, Zuckerberg has continued to keep the company on a pathway of growth.
How Does Mark Zuckerberg Make Money?
Mark Zuckerberg is one of the most well-known billionaires in the world. But most of his money comes from his stake in Facebook, and his success is largely a result of his major role in the creation of the company. As CEO, he continues to set the course for the company and he is the majority shareholder, owning 16.8% of the company’s shares.
From 2007 to the present day, Zuckerberg has consistently sold off around a million shares each year. From these sales, he has made around $2.3 billion in profits. In 2019, he earned $22.6 million from his salary and bonuses, plus a further $9.1 million from exercising options in Facebook stock.
Zuckerberg also has smaller business investments and has accumulated vast wealth from his past positions as the CEO of Instagram and WhatsApp. He also continues to receive donations from other organizations, such as the Chan Zuckerberg Initiative, a charity organization.
How Much Does Mark Zuckerberg Make?
Mark Zuckerberg’s estimated net worth in 2020 is 85.9 billion US dollars, according to Forbes. Of this, approximately 71.5 billion US dollars is held in Facebook stock, the rest being his other investments and business interests.
When Mark Zuckerberg earns money, he actually renounces his salary, leaving him just a token one-dollar salary each year. Zuckerberg also has an estimated $400 million-dollar home in Palo Alto, California.
Zuckerberg also funds various philanthropic initiatives, and he and his wife Priscilla Chan have pledged to give away 99% of their Facebook shares over the course of their lifetimes. To date, they have donated more than $45 billion US dollars to their philanthropic causes.
Mark Zuckerberg and the Tax System
Mark Zuckerberg’s wealth has been called into question due to his use of the stock market’s tax code. This allows him to avoid paying higher taxes by reducing his exposure while cashing in on stock sales. As the majority shareholder in Facebook, he has control over its decisions, including the timing at which he sells off shares.
This has led to criticism from billionaires around the world, including from Elon Musk, who claims that this is an example of why the US tax system is “broken.” Zuckerberg also faced a public outcry when it was revealed that he had saved over $100 million US dollars in 2018 by selling offFacebook stock.
It is estimated that he has saved up to about $3-4 billion US dollars in taxes over the last few years.
Mark Zuckerberg’s Impact on the Technology Industry
Mark Zuckerberg’s impact on the technology industry is immense. He revolutionized the way we communicate through the various platforms that Facebook owns. This includes Instagram, WhatsApp, and Oculus VR.
By introducing “The Facebook” to the world, he has created an incredibly powerful business empire that has connected billions of people and changed the social-media game. Zuckerberg’s influence in the technology world has led to the development of many innovative start-ups and helped shape the way technology is used and accessed by businesses and individuals around the world.
Mark Zuckerberg’s Contribution to Humanitarian Causes
Mark Zuckerberg and his wife Priscilla Chan have pledged to give away 99% of their Facebook shares to charitable causes. In 2010, the couple founded the Chan Zuckerberg Initiative which began donating significant amounts of money to humanitarian causes, especially in supporting education, healthcare, and scientific research.
To date, the Chan Zuckerberg Initiative has donated over $45 billion US dollars to date. In 2015, the couple founded the Breakthrough Energy Coalition, an initiative dedicated to finding solutions to the world’s energy problems. They also established the Founders Fund, a philanthropic initiative aimed at funding new companies and technologies for social change.
In 2016, the couple contributed $3 billion US dollars over the course of 10 years to medical research, which includes the Human Cell Atlas project, an effort to map every cell in the human body. Another of their philanthropic initiatives was the establishment of a fund to help immigrants and refugees.
Mark Zuckerberg’s Image and Legacy
Mark Zuckerberg has been both lauded and criticized for his handling of his company’s data privacy controversies. He has also had to defend himself against a variety of lawsuits from users and competitors, who accuse him of knowingly collecting and selling user data.
Despite these controversies, Zuckerberg remains one of the most influential technologists and entrepreneurs in the world and the creator of one of the largest social networks the world has ever seen. His commitment to investing in advances in technology, science, and
the humanitarian sector indicates his dedication to creating a better world. He will undoubtedly continue to remain a powerful force in the technology world in the years to come.
