Newsletters
Lifestyle
Hillary Hoffower
Updated
- Mark Zuckerberg's net worth dropped nearly $10 billion in just a week.
- The drop came after Coca-Cola and other major companies suspended advertising with the social-media giant.
- Zuckerberg's net worth, an estimated $82.3 billion, is largely tied to his Facebook stock.
- Even with Facebook's ad boycott issues, the site's cofounder is still plenty rich.
- Visit Business Insider's homepage for more stories.
Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview
Thanks for signing up!
Access your favorite topics in a personalized feed while you're on the go.
Advertisem*nt
Mark Zuckerberg's net worth dropped by nearly $10 billion in just a weekafter Coca-Cola, Starbucks, and other major brands halted their social-media advertising with the tech giant, according to Bloomberg.
Even though Zuckerberg's personal fortune has been on a rollercoaster ride since Facebook's catastrophic year in 2018, he still remains one of the world's richest people.
In spite of his billions, Zuckerberg doesn't have a taste for opulence, especially when it comes to cars, clothes, and travel. He does, however, have an affinity for developing his real-estate portfolio — he most recently dropped $60 million on two Lake Tahoe properties.
As a member of the Giving Pledge and cofounder of theChan Zuckerberg Initiative, which he started with his wife Priscilla Chan, Zuckerberg has also dedicated much of his fortune to charitable causes.
Advertisem*nt
No matter how he spends his money, it seems that Zuckerberg will always have billions left over. Here are nine facts that show just how rich Zuckerberg really is.
Advertisem*nt
1. Zuckerberg is so rich that he's able to live off an annual salary of $1.
He previously made a reported $770,000 from his Facebook salary and bonuses, but he slashed his salary to its current rate in 2013. That means a huge chunk of his wealth is tied to Facebook stock; he owns nearly 17% of the company, reported Business Insider's Jake Kanter.
Unfortunately for Zuckerberg, that means dips in Facebook's share price have a major impact on his personal fortune.
2. Each year since Facebook's IPO in 2012, Zuckerberg has added an average of $9 billion to his net worth.
At $16 billion, Facebook is the second biggest tech IPO in history. Since then, the stock has increased by more than 408% for a current market capitalization of $547 billion, reported Lucinda Shen for Fortune.
Advertisem*nt
3. Zuckerberg's 2020 net worth sank after Coca-Cola halted its social-media advertising — but he still retains a spot in the world's top 10 richest people.
Zuckerberg's net worth fell in 2019 following a year of Facebook scandals, reported Kanter, but his ranking has since recovered. It fell again in 2020 when Coca-Cola joined the Facebook ad boycott as part of the #StopHateforProfit campaign by American civil-rights groups. (Other major brands have followed suit.)
As of June 28, 2020, Bloomberg ranks Zuckerberg as the world's fourth-richest person.
Advertisem*nt
4. In 2018, Zuckerberg earned roughly $1.7 million an hour, according to previous Business Insider calculations.
Business Insider found the difference between Zuckerberg's 2017 and 2018 net worths (as provided by the Forbes' 2017 and2018 richest people in the world lists, published every March) to determine his annual earnings. Zuckerberg's annual earnings came to roughly $15 billion.
We then divided all annual earnings by 8,760, the number of hours in a year, to calculate how much he earned an hour.
Advertisem*nt
5. It took Zuckerberg less than an hour-and-a half to earn what the average American man with a bachelor's degree will earn in his lifetime — $2.2 million, according to the Social Security Administration.
The average American woman with a bachelor's degreewill earn $1.3 million in her lifetime, according to the SSA.
Zuckerberg dropped out of college during his sophom*ore year.
6. In less than two minutes, Zuckerberg makes what it takes the full-time median US worker a year to earn — $48,328.
That's based on data by theBureau of Labor Statistics. Zuckerberg earned $28,538 per minute last year, according to Business Insider's calculations.
Advertisem*nt
7. The average American household spending $1 is similar to Zuckerberg spending about $845,000.
The median net worth of an average US household is $97,300. Dividing that number into $82.3 billion comes to about $845,837.
8. Zuckerberg's net worth is greater than the GDP of Jordan, Nicaragua, and Jamaica — combined.
Jordan's GDP is about $46.4 billion, Nicaragua's is $12.5 billion, and Jamaica is $16.7 billion.
Advertisem*nt
9. Zuckerberg could give every single living person in the US $100 — and still have more than half of his $82.3 billion net worth left over.
The US population is currently 329,870,158, according to the US Census. Giving every American $100 would cost Zuckerberg roughly $32.9 billion.
Read next
More...
Advertisem*nt
