Mark Zuckerberg’s net worth is estimated to be around $62 billion as of 2022 and is known to lead a rather effortless lifestyle. One of the wealthiest people in the world, he is rarely seen in anything other than a simple t-shirt and jeans.
People have always been curious to learn how exactly does Mark Zuckerberg spend billions? Although he is not known to splurge, when he does, he does it style, buying up multi-million homes and donating roughly that much or more to charity.
How much money does Mark Zuckerberg bring in?
The Bloomberg Billionaires Index reveals that Mark Zuckerberg net worth comes to around 0.27% of the GDP of the United States. So, how much money does Mark Zuckerberg bring in and how does he use it? Industry experts estimate that Mark Zuckerberg earns anything between $6 million to $12 million every day.
Most people know that Zuckerberg made his fortunes with Facebook. Initially meant to be a side project that originated in the dorms of Harvard, the social networking site crossed over a billion users in 2012 and made its stakeholders multimillionaires after going public. He owns almost 400 million shares in the company and is now focusing on creating a metaverse where people can gather virtually. He officially changed the name of his company to Meta Platforms Inc. in 2021, signaling the future he envisions. Under its umbrella, Meta Platforms includes Facebook, Instagram, Beat Games, WhatsApp, and Oculus.
1. The Chan Zuckerberg Foundation
After the birth of his daughter Max, Mark Zuckerberg and his wife, Priscilla Chan, pledged to give away 99% of their fortunes from Facebook to charity during their lifetime. Created in 2015, the Chan Zuckerberg Initiative (CZI) has been called one of the most well-funded philanthropies in human history. Zuckerberg and his wife aim to use their charity to bring about change in science, education, immigration reform, housing, criminal justice, and other local issues. The Chan Zuckerberg Foundation also donated $100 million to aid COVID relief efforts.
2. Multiple Mansions
While Zuckerberg tries to fly under the radar with his unassuming outfits, he does own multiple homes spread across America. He has nearly 1,400 acres of real estate to his name, which includes 10 homes. One of his biggest acquisitions is a 707-acre pot on the island of Kauai, Hawaii, for about $116 million in 2014. Three years later, he bought another 89 acres. In 2021, Zuckerberg and his wife splurge $53 million to add 60 acres to their holdings in Kauai. His earliest purchase and primary residence is a 5,617-square-foot five-bedroom, five-bathroom wood-floored home in Palo Alto, California, where he stays with his wife and two daughters.
3. Technology
As the CEO of one of the biggest technology companies in the world, Mark Zuckerberg enjoys spending on technology and designing custom tech. At Facebook, all engineers must attend a Boot Camp during their first six weeks in office. Zuckerberg has also been known to develop a custom AI technology for his home, which he named AI Jarvis, an ode to Tony Stark’s assistant in Ironman. Although it does not count as a personal purchase, Zuckerberg has spent more than $10 billion on the metaverse. He also has a keen eye on how tech will shape the future, snapping up Onavo, an Israeli mobile web analytics company in 2013.
4. Security
Being one of the richest men in the world comes with its own share of dangers. While Mark Zuckerberg spends billions on worthy causes through his charity, he also sets aside millions to protect himself and his family. Zuckerberg’s security spending is also revealed in Facebook’s earnings reports. In 2021, Facebook spent approximately $15.2 million to protect its CEO. This does not include the $10 million he received as a pre-tax allowance for his family’s security. Out of the total $46 million, Zuckerberg spent $23.4 million on himself, while $7.6 million was spent on Sheryl Sandberg, the COO of Facebook.
5. Clothing
The seemingly modest gray t-shirts might look ordinary. But those with a discerning eye know that Italian luxury brand Brunello Cucinelli is anything but cheap. Zuckerberg’s t-shirts are custom made by Cucinelli for nothing less than $300 apiece. The brand is a favorite amongst highflyers in the Silicon Valley and Zuckerberg’s patronage has surely helped highlight its expensive wares. For formal events, Zuckerberg prefers dressing up in the brand’s custom-designed tuxedos and suits, his very own version of power dressing.
In recent times, people have wondered why has Mark Zuckerberg lost so much money. One of the reasons is the stock market crash and a weak earnings forecast this year by Meta Platforms. In February 2022, the crash affected Meta stocks, with Mark Zuckerberg net worth dropping by almost $32 billion as he is Meta’s biggest shareholder. Before the crash, his holdings had been valued at almost $121 billion. Despite the crash, Zuckerberg is convinced that the metaverse will change things in the future.
