Facebook, social network launched by Mark Zuckerberg served as an information hub at the time of Covid pandemic. Although, it is once criticize by the people for spreading wrong information about vaccination.
A judge rejected antitrust lawsuits filed by states and the federal government in June 2021. These lawsuits could have compelled Facebook to sell Instagram and WhatsApp.
Zuckerberg founded Facebook when he was only 19 years old, and he was studying at Harvard University in 2004. He thought of Facebook as a medium to connect and share names and images with friends.
He went public with Facebook in May 2012, and he currently controls around 12% of the company’s shares.
Zuckerberg and his wife, Priscilla Chan, pledged in December 2015 to give away 99 percent of their Facebook stock throughout their lives.
Net Worth of Mark Zuckerberg
Mark Zuckerberg is an American philanthropist and technology entrepreneur with a net worth of 129 billion dollars. As of this writing, Mark is the world’s third wealthiest person. Among the top 100 wealthiest people globally, Mark is the youngest among all of them. Moreover, he is the youngest among the top 30 by more than a decade.
Most of Mark’s money is attributed to his Facebook shares, which is somewhat unsurprising. Mark currently has around 400 million different category shares of Facebook with varying voting rights. For example, some of the shares might be equity or preference shares etc. He holds around 12 million Class A Facebook shares and 365 million Class B shares, accounting for nearly 81 percent of all B shares. Thanks to the Class B super-voting shares, Mark has 53 percent voting power in the corporation. Mark possesses about 58 percent of the company’s overall voting power because he controls co-founder Dustin Moskovitz’s Class B voting rights. In August, 2020, for the very first time, the net worth of Mark crossed $100 billion.
Early Life of Mark Zuckerberg
As Mark’s father’s dentistry business was run out of their home, he created a software application called “ZuckNet” that allowed all computers in the house and the dental office to connect.
While at Harvard University in 2004, Mark Zuckerberg co-founded Facebook (now Meta) with classmates Eduardo Saverin, Dustin Moskovitz, and Chris Hughes. After that, Facebook became more widely used, Zuckerberg dropped out of Harvard to focus solely on his growing company. Zuckerberg is now the CEO and chairman of Meta, a social media platform with over 2.9 billion monthly active users as of Q3 2021.
As we all are well aware that Facebook is one of the most popular social media platforms in the whole world in today’s time. It allows its users to chat, create personal profiles, post pictures and videos, create groups etc. This application also has certain ads popping up while making the primary source of revenue of the company.
Meta also owns Instagram, a photo-sharing app acquired in 2012; WhatsApp, a cross-platform mobile messaging service; and Oculus, a virtual-reality headset manufacturer, both acquired in 2014; Workplace, an enterprise-connectivity platform.
The Chan Zuckerberg Initiative was formed in 2015 by Zuckerberg and his wife, Priscilla Chan, acting as co-CEO. Their nonprofit aims to use technology to address social issues such as enhancing educational access and quality, overhauling both the criminal justice and immigration systems in the United States, curing all kinds of illness and increasing house affordability.