How Much Money Does Mark Zuckerberg Make Per Second?
When it comes to money, Facebook’s Chief Executive Officer (CEO) Mark Zuckerberg is likely one of the wealthiest individuals in the world. Named one of the nation’s wealthiest people by Forbes, in 2019, Zuckerberg’s estimated worth reached an incredible $62.3 billion.
So, it’s no surprise that people have been wondering just how much money Zuckerberg makes in a second, minute or even hour.
According to the Wall Street Journal’s “Billionaire Index,” Zuckerberg’s 2019 net worth was valued around $62, 067, 536, 160. That’s an average of $172, 422, 096. It also means he earns an estimated $4, 932, 836 per hour or an impressive $82, 213 per second.
Elite wealth management specialist Lena Toritch, author of multiple finance and investment books, believes the Facebook mogul’s immense wealth is due to his “smart investments.” She says: “It’s no secret that Zuckerberg invests in stocks, cryptocurrencies and other diverse financial opportunities outside of his Facebook empire. Zuckerberg’s well-studied decisions and early investments in companies like Airbnb, Spotify and Asana, have put him in a position to make even more money with every passing second.”
Financial expert at Investopedia, Tim Fries, agrees that Zuckerberg’s wealth is well-deserved. He explains: “Mark Zuckerberg could technically retire today and still earn an average of around $82,000 a second! This estimated amount doesn’t even factor in the income he receives from speaking engagements and interests from other companies he’s invested in. In addition to his fruitful investments, Zuckerberg is also well known for his philanthropy. He’s donated hundreds of millions of dollars to causes, organizations and individuals across the globe.”
The Origins of Zuckerberg’s Money
It’s no secret that Zuckerberg’s success began with the launch of the “The Facebook” in 2004. Over the years, the online platform has grown exponentially, reaching new heights – including a 2018 IPO resulting in a record-breaking debut. But how did it all start?
Zuckerberg created the site while studying in his first year at Harvard University. The now iconic social network changed the way people around the world stay connected, allowing users to post stories, pictures, videos and more.
Citing Zuckerberg’s incredible success, Business Insider reported that Facebook’s CEO is worth more now than some of the biggest names in history combined: “If you combine Bill Gates ($99.2 billion), Jeff Bezos ($132 billion) and Warren Buffet ($82.5 billion), his net worth still comes up short, even with the addition of Elon Musk’s $22.3 billion fortune.”
Over the years, Zuckerberg has managed to maintain his title as one of the world’s wealthiest people despite Facebook’s various controversies and need to make costly investments.
How Zuckerberg Has Used His Wealth
As mentioned earlier, Zuckerberg has made ample donations to causes he’s passionate about, including health and education. As the co-founder of a charitable organization called “the Chan Zuckerberg Initiative” with his wife Priscilla, the couple has committed billions to good causes.
The couple also launched the nonprofit organization “The Chan Zuckerberg Foundation” to support innovation in education and science, with nearly 99 percent of their Facebook shares worth approximately $70 billion, being earmarked as such.
In one of Zuckerberg’s Facebook posts, the computer scientist wrote: “Today, Priscilla and I are committing to give 99% of our Facebook shares — currently about $45 billion — during our lives to advance this mission. We know this is a small contribution compared to all the resources and talents of those already working on these issues. But we want to do what we can, working alongside many others.”
The CEO has also given his own guidance on the issue of money, saying: “Having money isn’t the same as being happy. Legally, if you have a lot of money, you need to make sure you’re giving back. A lot of people have a tendency to have more money than they can or should spend. Then, you start looking for other ways for it to be useful”
What Wealth Management Experts Say About Zuckerberg’s Wealth
When it comes to money, most people look to their financial adviser or wealth manager for advice. But what do the experts in the field have to say about Zuckerberg’s wealth? Most agree that Zuckerberg’s wealth is well-earned and that his decisions are smart and strategic.
Wealth management company Dynasty Financial Partners, says: “There’s probably no one who’s earned their wealth as much as Zuckerberg has. He’s probably one of the smartest CEOs and richest people on the planet. He has a specific understanding of markets and technology, and his wealth could carry him through generations of his offspring.”
Certified Financial Planner Jason Bondrud, believes that having a good financial education is key: “Mark Zuckerberg understands the importance of building wealth and protecting his assets with the right strategies. He makes smart investment decisions, puts his money to work for him, and plans for the future. Those are all important parts of wealth-building that require informed decisions if you’re going to be successful.”
Zuckerberg’s Advice For Other Millionaires
For current and future millionaires, there’s lots to learn from Zuckerberg’s personal example. Rather than splurging and wasting money on luxury items, the Facebook co-founder is known to be quite frugal, living a relatively simple lifestyle.
Chris Blunt, CEO of Global Wealth Management & Investment Solutions, says of Zuckerberg’s stye of living: “He chooses to live in a reasonable house, without a private plane, and is more likely to be seen in a ‘hoodie’ rather than a bespoke suit – all choices which put him in good stead with his vast amount of shareholders and investors, who respect how he is more frugal than the typical billionaire.”
Advice from the billionaire himself? “Focus on being a good person and making a positive difference in the world, and the money will come.”
Goal-Setting for Finances
Whether you’re an aspiring millionaire or someone looking to build better financial habits, you can use wealth building tips from Zuckerberg’s playbook for your own gain.
To start, consider setting financial goals. Doing so will help you to stay on track, manage your wealth, save for the future and eliminate wasteful spending. This will also give you an opportunity to think more strategically about your future financial plans and decisions.
Certified Financial Planner Kasoy Alfred, further explains: “Setting financial goals is the best way to start planning for the future. Whether you’re just starting out or need to get back on track, it’s important to focus on the long-term. It’s also important to keep in mind that small changes to your daily habits can make a big difference in the long-term.”
Financial expert, Craig Haller, suggests that goal-setting is also about mapping out short-term matters: “The short-term goal-setting process should focus on prioritizing near-term objectives, such as reducing debt and saving extra income where possible. The mid-term goal-setting process should keep long-term goals in mind, such as planning for retirement or investing in the stock market.”
Choosing the Right Financial Adviser
As with any money related decision, having the right team in place for investment advice and guidance is important. When selecting a financial adviser or money manager, look for experts with years of experience, specialized qualifications and independent certification.
Financial advisor and author, Irv Flax suggests: “When researching financial advisors, ask if they have a fiduciary responsibility to act in your best interest at all times. This means they must make decisions based solely on your financial interests, not their own.”
Another suggestion from Flax is to seek out financial professionals who use a wide range of investments. “The aim is to diversify your money,” he explains. “Look for advisors who are broadly diversifying your assets using multiple asset classes, not just stocks and bonds. This helps reduce the risk of losses, spreading them across many different investments.”
The Benefits of Investing Online
Online investments have become increasingly popular over the years, as more people look for cheaper alternatives to traditional communication with their financial advisors. Thanks to apps like “Robinhood” and “Acorns,” Investing online has become a great way to get involved in the markets without incurring heavy fees.
Managing Director at Investify, Stephen Smith, believes the convenience of online investing is key: “Online investing provides a great way to access the markets quickly and with much lower costs than traditional brokers. You can open an account with as little as a few hundred dollars in some cases.”
Senior Financial Analyst at CentSai, Jesse Vollmar, adds: “Online investing can be a great way to dip your toe in the investing waters if you are new or just have a small amount of money.”
At the same time, Flax cautions that online investment should be done with caution: “Investing online requires a basic understanding of how stock markets work, so it’s important to do a bit of research and to consult with a professional financial advisor before investing.”
