Mark Zuckerberg is synonymous with Facebook and at the age of 36, the young CEO has amassed a fortune.
The tech mogul has sometimes been critical of the policies and policies of his company, but it has not affected his revenue. Zuckerberg’s expanded pile of wealth recently landed him on an exclusive new list occupied by just two other humans on Earth.
Mark Zuckerberg is now part of the club of elite centibillionaire
As it turns out, most of the world knows that Zuckerberg, co-founder of Facebook, has a surprising net worth. In January 2020, that number fluctuated between $ 80 billion and $ 98 billion due to changes in the stock market. But that did not change the fact that he has been a homemade billionaire since 2008.
He was then only 23 and joined the likes of Oprah Winfrey, Carlos Slim, Jeff Bezos, and George Lucas. As of August 6, Zuckerberg’s wealth surpassed $ 100 billion, making him a centibillionaire per Bloomberg.
He shares that space with other tech entrepreneurs Bezos and Bill Gates and is the youngest member of this unique bond.
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How Mark Zuckerberg Became a Centibillionaire
It is not often that one sees the term centibillionaire, an indication that it is an achievement difficult to achieve. Zuckerberg owes it to the new Instagram add-on that launched on August 5th. In response to the news that TikTok has a possible ban in the US, Instagram ownership of Instagram Reels is rolling out all over the world.
The latest feature on the popular app enables users to create short videos of 15 seconds with special effects and music.
While it’s in the air as Reels will hit the use of TikTok for influencers and other users, it increased Facebook’s share price at launch and thus increased Zuckerberg’s wealth in just days by $ 5.3 billion.
Bloomberg reported that Zuckerberg has a 13% stake in Facebook and since the beginning of the year, his fortune has grown by roughly $ 22 billion. Its status can go up or down, depending on stock prices and the success of Reels. Bezos remains the richest man on the planet.
Zuckerberg shares his wealth through charity
Zuckerberg and his wife Priscilla Chan offer charitable help through their Chan Zuckerberg initiative. Since March, they have donated more than $ 50 million to coronavirus relief and research and have partnered with the Gates Foundation to study treatment options.
In addition, in May, Zuckerberg and Chan made headlines after donating $ 800,000 to eight local restaurants in the Bay Area to keep them on the floor during COVID-19 lockdowns.
Back in 2015, the couple announced their intention to give away 99% percent of their Facebook shares during their lifetime. In an open letter written to their daughter Max, Chan and Zuckerberg promised to invest this part of their fortune in support of learning, disease healing, science, community building and equality.
To date, the couple’s foundation has donated more than $ 2 billion since its inception. For now, Instagram helps Zuckerberg and Facebook maintain popularity in the social media arena, but if Reels catches up with content creators and casual users, Zuckerberg’s net worth could balloon again.
