- Facebook co-founder and CEO Mark Zuckerberg now has a net worth of about $87 billion, according to the Bloomberg Billionaires Index
Facebook co-founder and CEO Mark Zuckerberg now has a net worth of about $87 billion, according to the Bloomberg Billionaires Index. Last year, Facebook hit $70.7 billion in 2019 revenue along and the company is now seeing 2.5 billion monthly users. As of October 2019, Zuckerberg had a 13% stake in Facebook.
Originally from White Plains, New York, Zuckerberg started programming at a young age and that continued at the Phillips Exeter Academy boarding school. Upon graduating from Exeter, Zuckerberg was enrolled at Harvard University and launched TheFacebook.com from his dorm room with a few friends. Upon expansion of the social platform, Zuckerberg dropped out of Harvard and moved to Silicon Valley.
In the fall of 2004, Facebook raised $500,000 from billionaire investor and tech entrepreneur Peter Thiel. In December 2004, Facebook hit 1 million users and the company started raised more funding from institutional investors and major corporations. In 2005, Facebook rejected a $1 billion offer from Yahoo.
Facebook went public on the New York Stock Exchange on May 17, 2012. And a couple of days later, Zuckerberg and Priscilla Chan got married at an event in their backyard which also celebrated her graduation from medical school.
Zuckerberg and Chan have pledged to donate a majority of their fortune to charity. Some of their philanthropic initiatives included a $100 million donation of Facebook shares to the public school system in Newark, New Jersey in September 2010 and a 36 million share donation to the Silicon Valley Community Foundation.
Zuckerberg’s net worth surged about $30 billion since March 17. Despite the pandemic, Facebook reported revenue and user numbers that were higher than Wall Street expectations. For the first 3 months of 2020, Facebook generated $17.74 billion in revenue and hit 3 billion monthly users across Facebook, Instagram, WhatsApp, and Messenger.
With the jump in net worth, Zuckerberg passed billionaires Warren Buffett (Berkshire Hathaway CEO) and Bernard Arnault (chairman and chief executive of LVMH Moët Hennessy – Louis Vuitton SE). Now Zuckerberg is right behind Amazon CEO Jeff Bezos ($146 billion) and Microsoft co-founder Bill Gates ($110 billion).