BY: Chisom ADA
Yahoo News puts it this way: “Here’s how the Facebook CEO makes and spends his fortune”.
That makes the tech titan only the third current centi-billionaire on Earth.
In June, advertisers including Verizon, Honda, and Ben & Jerry’s boycotted Facebook over the social network’s lack of hate-speech moderation.
According to this report, the boycott briefly sunk both Facebook’s share price and CEO Mark Zuckerberg’s net worth.
Zuckerberg drives an affordable car and wears basic clothes, but appears to splurge on real estate, buying houses and then buying the surrounding properties for privacy.
Mark Zuckerberg and his wife Priscilla Chan are generous philanthropists, investing billions in childhood education and medical research that they hope will cure all diseases in their children’s lifetimes.
Mark Zuckerberg is richer than he’s ever been.
Facebook’s shares are on a tear after the company launched a new Instagram feature that will compete with TikTok in the US. The move propelled Zuckerberg’s personal net worth over $100 million for the first time.
Before the announcement, Zuckerberg had been having a tough summer. Zuckerberg faced fierce criticism for refusing to moderate Facebook posts in which President Trump called civil rights protesters “thugs” and suggested violence when he wrote “when the looting starts, the shooting starts” in the wake of George Floyd’s death at the hands of Minneapolis police officers.
As a result, civil rights organizations including NAACP, Color of Change, and Anti-Defamation League asked advertisers to stop paying for advertisements on Facebook. Many agreed, sending both Facebook’s share price and Zuckerberg’s net worth into a freefall.
Keep reading to learn more about how the Facebook cofounder makes and spends his centibillion-dollar fortune.
In May 2012, eight years after its founding, Facebook debuted on the New York Stock Exchange. At the time, it was the biggest technology IPO in history.