Last year, Mark Zuckerberg, the founder and CEO of Meta, entered the ranks of the world’s wealthiest individuals, with a fortune exceeding $100 billion. He joined the exclusive group of ten centi-billionaires globally. According to Forbes, as of June, Zuckerberg’s net worth stood at $101.1 billion.

While maintaining a generally low profile, Zuckerberg demonstrates a penchant for indulging in real estate acquisitions, particularly in the idyllic setting of Hawaii. Additionally, alongside his Wife Priscilla Chan, he actively directs investments towards childhood education and medical research.

“In a recent development, Zuckerberg intriguingly responded to a spontaneous challenge posed by Elon Musk, the CEO of Tesla, for a ‘cage match‘.”

Discover how the technology tycoon allocates his vast fortune, encompassing luxury vehicles, real estate holdings, and philanthropic endeavors.

Facebook debuted on the New York Stock Exchange in May 2012

Facebook achieved a significant milestone, marking a historic moment. During that time, the company went public with the largest initial public offering (IPO) ever witnessed in the technology industry, propelling Mark Zuckerberg’s wealth to new heights.

Possessing a 13% ownership stake in the company, now known as Meta, the executive’s compensation does not primarily come from a substantial salary. Surprisingly, his actual earnings amount to a mere $1.

Although he holds the position of being one of the wealthiest technology magnates, the 38-year-old Harvard dropout embraces a modest way of life alongside his wife, Priscilla Chan, and their two young daughters.

Similar to numerous established figures in Silicon Valley, Zuckerberg opts for a casual and unassuming wardrobe, favoring jeans, t-shirts, and sweaters over flashy suits. However, it is worth noting that these seemingly ordinary attire choices come with a substantial price tag, with reports indicating that they are priced in the range of hundreds, or even thousands, of dollars.

Recognized for his preference for affordable automobiles, Zuckerberg has been spotted behind the wheel of relatively inexpensive cars. Specifically, he has been seen driving an Acura TSX and a Honda Fit, both of which hold a value of $30,000 or less.

Embarking on a property acquisition spree, Zuckerberg initiated the purchase of the neighboring residences surrounding his own, investing over $30 million in acquiring four houses. His intention is to demolish these properties and undertake a redevelopment project.

Back in 2013, Zuckerberg made a significant purchase by acquiring a 5,500-square-foot residence. Over the course of ownership, he invested more than $1 million into renovations, which involved notable enhancements such as the addition of a greenhouse and a kitchen remodeling project.

However, in July 2022, he made an off-market sale of the property for an astounding $31 million, setting a new record as the largest residential real estate transaction in San Francisco for that year.

Zuckerberg’s Expensive Real Estate Holdings

During the year 2014, the billionaire expanded his real estate holdings across the Pacific Ocean by investing a staggering $100 million in two properties situated on the island of Kaua’i. The first acquisition was the Kahu’aina Plantation, spanning an expansive 357 acres, previously serving as a sugarcane plantation. The second property, Pila’a Beach, encompassed an impressive 393 acres and boasted a pristine white-sand beach.

In 2016, Zuckerberg faced backlash from his neighbors when he erected a 6-foot wall around his property, leading to dissatisfaction within the community. Subsequently, in 2017, he initiated a lawsuit against Hawaiian families who held legal ownership claims on portions of land within his property. Although he eventually withdrew the lawsuit, residents accused him of engaging in “neocolonialism.”

During March 2021, Zuckerberg invested a substantial amount of $53 million to acquire approximately 600 acres of land located on Kauai. Later, in December of the same year, he further expanded his land holdings by purchasing an additional 110 acres in the vicinity, amounting to a transaction worth $17 million.

Zuckerberg made significant investments in two lakefront properties situated on Lake Tahoe, with a combined price tag of $59 million. The first property, known as the Brushwood Estate, encompasses 5,233 square feet and occupies a sprawling six-acre plot of land. Notable features of this estate include a guest house and a private dock.

With his ownership of both Lake Tahoe properties, Zuckerberg possesses approximately 600 feet of exclusive shoreline along the west shore of Lake Tahoe. Similar to his approach in Palo Alto, when acquiring properties, Zuckerberg often purchases the surrounding homes for the sake of privacy.

Financial Milestones, and Net Worth Fluctuations

In solidarity with esteemed figures like Bill Gates and Warren Buffett, as well as a community of over 200 millionaires and billionaires, Zuckerberg has committed to dedicating the majority of his wealth to philanthropic endeavors. As part of his pledge, he intends to liquidate 99% of his Facebook shares within his lifetime, thereby contributing significantly to charitable causes.

In September 2017, Zuckerberg announced his intention to sell a range of 35 to 75 million shares within the subsequent 18 months. The purpose behind this sale was to generate funds, amounting to an estimated $6 billion to $12 billion, for the Chan Zuckerberg Initiative (CZI). Established by Zuckerberg and his wife in 2015, CZI is a philanthropic organization that prioritizes areas such as personalized learning, disease eradication, fostering connections among people, and building resilient communities. Over the years, CZI has already distributed grants totaling nearly $3 billion.

In August 2020, the introduction of a new Instagram feature aimed at rivaling TikTok had a profound impact, propelling both the company’s stock price and Zuckerberg’s personal wealth to unprecedented levels. As a result, Zuckerberg’s net worth surpassed the $100 billion mark for the first time, positioning him as one of the select group of ten centi-billionaires worldwide.

Although his wealth experienced subsequent fluctuations and a decline, with an approximate value of $67.2 billion around February, Zuckerberg’s net worth recently rebounded to reach the $100 billion threshold once again in June, marking the first time since February 2022.

Conclusion

Discover the fascinating journey of Mark Zuckerberg, the founder and CEO of Meta. As one of the world’s wealthiest individuals, his fortune exceeded $100 billion, placing him among the elite group of ten centi-billionaires globally. Explore his diverse investments, from real estate acquisitions to philanthropic endeavors. Witness the ups and downs of his net worth, including a significant milestone in August 2020. Delve into the details of his commitments to charitable causes and the Chan Zuckerberg Initiative. Witness his property ventures, legal disputes, and strategic acquisitions, all while maintaining a generally low profile.

The post How Meta CEO Mark Zuckerberg Spends His $65 Billion Fortune first appeared on Business d'Or.