Mark Zuckerberg is the founder of the social media phenomenon Facebook. He is also the CEO and chairman of the company and he currently has an estimated net worth of $63.5 billion. Even though he’s recently had some setbacks in the business he developed, he’s still highly successful. Here is how he managed to amass his vast fortune.
His early life
Zuckerberg was born in White Plains, New York on the 14th of May, 1984. His parents were educated and Mark was exposed to a variety of things as he grew and learned. He became interested n computer programming while he was still quite young. He showed great potential in the field by the time he was just 12 years old, he had developed a computer-based messaging program which was used in his dad’s dental office for staff communication. He called the program Zucknet.
It was because of Mark’s skills and talents that his parents decided to hire a tutor in computer programming while he was still attending high school. When he graduated they placed him in a New Hampshire prep school. When he was finished with the prep school, Mark was accepted into Harvard University. While there, he earned a reputation for being the guy who knew the most about computer programming on the campus. He already had two programs to his credit by the time he was in his second year at Harvard. They were named FaceMash and CourseMatch and they caught on with the student body but Harvard took exception with FaceMash because they considered it to be inappropriate for the campus.
His social network site
Zuckerberg got together with a group of his friends and together they developed a program that would let the students form online connections with one another. In June of 2004, the new social media site went live and he called it Facebook. The first version of the site was operated from Zuckerman’s Harvard dormitory room. Before the year had even ended, Mark’s new site had gained one million users and it was at this time that he left the University to pursue his new career full-time.
Facebook grows exponentially
Facebook became such a phenomenon that it grew exponentially with users. It was noticed by venture capitalists who saw the opportunity for the site to go public. In 2005, Mark Zuckerberg relocated to Silicon Valley and the first round of funding was invested in the new company. A total of $12.7 million was initially invested in the site, but this was before it had been opened to the general public. It was initially a site that was reserved for students of Ivy League schools. When it was opened to all other college students the number of users jumped up to 5.5 million.
Numerous bids for acquisition
Zuckerman has had a good share of offers to buy Facebook from Microsoft, Yahoo and other big names in the business. He’s also been through numerous legal battles. The most recent reports show that Facebook’s quarterly users were up to 1.47 billion in the count and this shows an eleven percent increase from the prior year. Zuckerberg maintains a 60% controlling number of shares in the company. The most recent financial reports show his net worth at an estimated $63.5 billion. The self-made billionaire is generous with his wealth and has made multiple donations of sizable amounts to various philanthropic organizations and he also donates to public school systems and several other charitable organizations. He is dedicated to donating fifty percent of his income each year.
Mark Zuckerberg is married to his wife, Priscilla Chan, and the two have a daughter together. In an impressive open letter written by Priscilla, the couple has vowed that during their lifetime they plan to donate 99 percent of their net worth. They have fallen under criticism for making donations to a charitable foundation which is an LLC, and it is believed that investment in this will be to the advantage of their family more than to help others.
Mark Zuckerberg has made a giant fortune through his skills and brilliance in the field of computer programming. His $63.5 billion in net worth comes from earnings from Facebook. He serves as an example of what following your passion and a good idea can accomplish.