Home News Mark Zuckerberg’s Net Worth Drops From $118 Billion To Below $70Billion In...

Mark Zuckerberg’s Net Worth Drops From $118 Billion To Below $70Billion In Just A Year

Mark Zuckerberg

Mark Zuckerberg is co-founder and chief executive of Meta Platforms, the company behind Facebook — the world’s largest social-network.

The Menlo Park, California-based business had revenue of $118 billion in 2021 and has about 3.6 billion monthly users. Its initial public offering in 2012 was the biggest-ever technology IPO at the time. Bitcoin Treasury Records Show $2.1 Billion in BTC Erased From Balance Sheet

The majority of Zuckerberg’s fortune is derived from a 13% stake in Meta Platforms, formerly Facebook, according to the company’s 2022 proxy statement but drop from $118 billion to $60.08 billion.

Facebook is the world’s largest social network. Meta Platforms has about 3.6 billion active users each month including about 2.9 billion on Facebook, according to a January 2022 company presentation.

The company sold shares in an initial public offering on May 17, 2012 in what was the biggest technology IPO in history at the time.

The billionaire owns the shares through a series of trusts and holding companies, according to the proxy. He plans to give away 99% of his shares over his lifetime, according to a December 2015 SEC filing.

Zuckerberg started selling shares in August 2016 to fund his philanthropy and in Bloomberg’s calculation he isn’t credited with the value of any sales proceeds that fund charitable work. He’s still credited with those shares he plans to give away because he still owns them.

Zuckerberg has pledged to donate the majority of his fortune to charity. In September 2010, he donated $100 million of Facebook shares to the Newark, New Jersey, public school system. He has also donated 36 million shares to the Silicon Valley Community Foundation.

Zuckerberg is married to Priscilla Chan, who gave birth to a baby girl in December 2015. The same day, Zuckerberg announced plans to give away 99% of his stock in the social network during his lifetime to advance philanthropic causes. The couple’s second daughter was born in August 2017.

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