Mark Zuckerberg Net Worth
Mark Zuckerberg net worth and salary: Mark Zuckerberg is an American technology entrepreneur who has a net worth of $50 billion dollars. Mark Zuckerberg's salary is $1 per year. Many executives like Zuckerberg choose to pay themselves low salaries in order to increase the company's profits as much as possible. When the company maximizes profits it increases the overall value of their stock holdings which is where the executive's true wealth comes from. Executives like Eric Schmidt, Larry Page and Sergey Brin each earn only $1 per year in salary!
Net Worth details: The company IPO'd May 18th 2012 at roughly $38 dollars a share. Mark also has the right to purchase an additional 120 million shares of the company at any point in the future which would boost his net worth by tens of billions. Zuckerberg made most of his fortune from his 14 percent stock in Facebook. In 2016 he started to sell shares to fund his philanthropic efforts, and he has pledged to give away 99 percent of his shares during his lifetime. Zuckerberg owns $175 million in properties and land, including 700 acres in Hawaii, several homes in Palo Alto, and a townhouse in San Francisco. In 2016 Facebook had revenue of $28 billion.
Mark's first company Intelligent Media Group built Synapse Media Player, a music player using artificial intelligence to learn the user's listening habits. Both AOL and Microsoft tried to purchase Synapse from him for several million dollars and recruit Zuckerberg to their companies, but Zuckerberg went to turned them both down and instead went to Harvard College in September 2002. Zuckerberg created Facebook while attending Harvard with fellow classmates Dustin Moskovitz, Chris Hughes, and Eduardo Saverin. Zuckerberg launched Facebook on February 4, 2004 from his Harvard dormitory room. Zuckerberg kept Facebook at harvard until with the help of Moskovitz he decided to expand Facebook to other schools. Zuckerberg moved to Palo Alto, California, with Moskovitz and friends to establishing an office in a house for the Facebook business.
Harvard students Divya Narendra, Cameron Winklevoss, Tyler Winklevoss brought a lawsuit against Zuckerberg stating he intentionally made them believe he would help them build HarvardConnection.com a social network later called ConnectU. Numerous lawsuits followed, with the case settled on June 25, 2008, resulting in a settlement of 1.2 million common shares and payout of $20 million in cash. In 2010 the Winklevoss brothers made plans to sue Facebook stating Facebook misled them as to the valuation of the stocks settlement. A movie called The Social Network was released on October 1, 2010, and is based on Zuckerberg and the founding years of Facebook. Zuckerberg number 1 on Vanity Fair magazine's 2010 list of the Top 100 "most influential people of the Information Age".