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Tags: Mark Zuckerberg | wealth

How Zuckerberg Spends His $129 Billion Fortune

Pagani Huayra
A Pagani Huayra. (Getty Images)

By    |   Thursday, 30 December 2021 02:45 PM

With a net wealth estimated at $129 billion, Mark Zuckerberg, Facebook founder, is one of only 10 centibillionaires walking the earth. Business Insider breaks down how Zuckerberg makes, and spends, his billions.

When Facebook launched its initial public offering (IPO) on the New York Stock Exchange in 2012, it was only eight years since the company was launched, in 2004. At that time, it was the biggest tech IPO in history.

The 37-year-old Harvard dropout only owns 13% of Facebook. His take-home pay is a mere $1 a year. He continues to dress down, as if it were the early Dot-com days of the Internet. He has been seen driving around in basic Acura TSX, Honda and Volkswagon compact cars worth less than $30,000 each.

What does Zuckerberg splurge on?

So, what does Zuckerberg enjoy? He has been seen tooling around in a $1.3 million Pagani Huayra sports car.

Real estate is also top-of-mind for the billionaire's investment portfolio. A $7 million, 5,000-square-foot home in Palo Alto, California, which he purchased in 2011, has since been augmented with an Artificial Intelligence (AI) robot. He owns a San Francisco townhouse into which he made $1 million in renovations.

In Hawaii, he spent $100 million on two properties in 2014 -- one a 357-acre former surgarcane plantation, and the other 393 acres with a white-sand beach -- on the island of Kaua'i. Two years later, he built a six-foot-high wall around one of the properties.

This past year, he spent another $70 million to purchase 710 more acres in Kaua'i.

What does Zuckerberg do when he is in Hawaii? He has been seen riding a $12,000 electric surfboard, for one. He allegedly also shoots arrows and throws spears.

In addition, Zuckerberg purchased two Lake Tahoe, California, lakefront properties in 2018 for $59 million.

Security for him, his wife and two daughters is also of importance to the Facebook (now Meta) founder. In 2020, for instance, security for Zuckerberg and his family cost Meta $23 million.

Philanthropy

Zuckerberg is also philanthropic. The Giving Pledge is one of the charities he participates in, joining the likes of Bill Gates and Warren Buffett.

He and his wife, Priscilla Chan, also run the Chan Zuckerberg Initiative, which is reportedly funded with $18 billion to focus on "personalized learning, curing disease, connecting people and building strong communities." In 2020, it committed $1 million to help the people of Kaua'i battle COVID-19.

Zuckerberg has pledged to sell 99% of his Faceboook shares during his lifetime.

 

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StreetTalk
With a new wealth estimated at $129 billion, Mark Zuckerberg, Facebook founder, is one of only 10 centibillionaires walking the earth.
Mark Zuckerberg, wealth
418
2021-45-30
Thursday, 30 December 2021 02:45 PM
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