Mark Zuckerberg, the founder and CEO of social media giant Facebook, is one of the world’s richest and most influential tech leaders. As of November 2020, Zuckerberg’s net worth amounted to almost $85 billion, making him the fourth-richest person in the world, according to Forbes.
Only Amazon founder Jeff Bezos, Microsoft founder Bill Gates, and LVMH’s chairman Bernard Arnault are richer than Zuckerberg. But unlike the world’s wealthiest people, Mark does not rely on investments—his fortune is mainly derived from his 21% stake in Facebook, which he founded in 2004 with his college roommates.
The company has grown to become one of the world’s most valuable companies. It has enjoyed a rise in share prices over the last several years, reaching record values in 2020, despite the Covid-19 pandemic, and the shares are currently valued at $271. According to Bloomberg, Zuckerberg owns more than 430 million shares of Facebook, worth around $117 billion.
The 35-year-old CEO holds a little more than 50% of his wealth in Facebook stock. Along with his wife and philanthropic partner, Priscilla Chan, Mark published a letter to their newborn daughter in 2015 pledging to give away 99% of their Facebook shares during their lifetime. This amount is estimated to be around $45 billion. He has since sold 25 million shares of Facebook, raising $5 billion in donations to charity.
Apart from the stocks he owns in Facebook, the social media mogul has investments in several other companies, such as Instagram and WhatsApp, which he acquired over the years. He had also invested in, sold or established companies like Wildfang, Confirm, Basho Technologies, Path, and Asana.
Overall, Zuckerberg’s total net worth has been estimated at more than $84 billion, making him the fourth-richest person in the world, after Jeff Bezos, Bill Gates, and Bernard Arnault.
Influence of Mark
Mark Zuckerberg is considered one of the most influential tech leaders of our times. He is one of the torch-bearers of the so-called ‘the third wave of the internet’, which involves the integration of digital platforms with everyday life.
In his own words, Schwartzman likens this transformation to the invention of the printing press—“computers are starting to do for the software industry what the printing press did for media and books”. He believes the software industry will open up opportunities for creating new services and products for people to use.
Apart from serving as the chairman and CEO of Facebook, the 35-year-old tech guru also serves as a board member of the Chan Zuckerberg Initiative, a philanthropy program set up by the couple. Through this, they are hoping to connect people, accelerating scientific discovery and helping to make sure everyone has access to more opportunities.
Schwartzman is also a key figure in the fight against climate change, and he vocally defends as well as promotes new technologies that are meant to reduce or reverse the damage caused by human activity. He has made several pledges through The Giving Pledge, an organisation encouraging billionaires to offer the majority of their money away to good causes.
Zuckerberg’s Life
Mark Elliot Zuckerberg was born in White Plains, New York, in 1984. He was raised in a very affluent home, and his parents, Edward and Karen, were both of Jewish descent. Edward was a former dentist, while Karen was a psychiatrist.
Mark showed an advanced understanding of computers and programming in his early years. He was accepted at Harvard University in 2002. AtHarvard, he created a program called Facemash, which allowed students to rate the attractiveness of one another’s photographs.
Shortly after, Zuckerberg created Thefacebook, which quickly became popular among its users. Subsequently, the site was renamed to Facebook, and the Fortune 500 company was born. In 2012, Zuckerberg was named Time magazine’s Person of the Year.
He married his long-time girlfriend Priscilla Chan in 2012. Together, they have two children, Max and August. Mark and Priscilla also set up the Chan Zuckerberg Initiative, a philanthropic organization, in 2015, with a goal of advancing human potential and promoting equality.
Zuckerberg’s Competitors
Mark Zuckerberg’s biggest competitors are tech titans like Amazon’s Jeff Bezos, Microsoft’s Satya Nadella, Google’s Larry Page and Apple’s Tim Cook. These are all individuals who have a track record of successful investments, and together they form the most influential tech personalities of our times.
Despite that competition, Zuckerberg has been able to take the lead and make Facebook one of the most popular social media platforms in the world. It is estimated that Facebook had an average of 1.86 billion active users per month in the first half of 2020, making it the most popular social media platform worldwide.
However, Zuckerberg has also been in the news for his controversial decisions and actions. He has been at the center of criticism from governments and advocacy groups from all over the world for not doing enough to tackle the spread of false information and hate speech on the platform. Zuckerberg and other tech leaders were forced to answer a series of questions from lawmakers in the United States, the United Kingdom, Australia, and Canada regarding the influence of their platforms on the 2020 US election.
Charitable Donations and Philanthropy
Mark Zuckerberg and Priscilla Chan have donated a staggering amount of money to charity throughout the years. Some of their most notable contributions include a $25 million pledge to the Centers for Disease Control and Prevention (CDC) to support their efforts in fighting Covid-19. They also pledged $300 million to the global education sector. The couple has made numerous donations to organisations and initiatives fighting to advance educational opportunities, environmental causes, medical research, and poverty.
The Chan Zuckerberg Initiative, which is headed by Mark and Priscilla, also has several initiatives to improve and advance scientific research, for example by giving out grants to promising young scientists. Zuckerberg also runs the Breakthrough Energy Coalition, an organisation that invests in energy solutions which could help to reduce global warming. Apart from these, they also pledged $600 million to fight the spread of deadly diseases such as HIV and malaria.
Overall, it is clear that both Mark and Priscilla are serious about advancing the greater good through their philanthropy and charitable work.
Mark Zuckerberg’s Future
As of 2021, Zuckerberg is the fourth-richest person in the world, with a net worth of $85 billion. With Facebook stock prices likely to stay at current levels or even increase in the near future, the tech leader’s already-massive wealth is set to grow even more.
Moreover, the philanthropic efforts of Mark and Priscilla may have a bigger impact in the future. With the couple having already donated a huge amount of money to charities and organisations, their pledges for greater good are likely to continue, resulting in even more donations in the years to come.
As for his success in business and tech world, Schwartzman continues to make the right moves. He is the face of Facebook, and the company’s success is largely dependent on his decisions. In 2016, Facebook acquired virtual reality device maker Oculus, which has since become a huge success.
Zuckerberg has also been strongly pushing forward research in artificial intelligence and the development of bots, since the 2016 F8 developer conference. He has been investing heavily in new technologies and products, further expanding Facebook’s reach and increasing its potential for monetization.
As long as Mark has control of Facebook, his legacy—both financially and philanthropically—are likely to remain secure.
