The tech mogul is sometimes the subject of harsh criticism over his company’s policies and policies, but it hasn’t affected his earnings. Zuckerberg’s growing wealth stack recently put him on an exclusive new list occupied by only two other people on Earth.
Mark Zuckerberg is now part of the elite centibillion club
In fact, most countries around the world know that Zuckerberg, co-founder of Facebook, has an amazing net worth. As of January 2020, that number fluctuated between $ 80 billion and $ 98 billion due to changes in the stock market. But that hasn’t changed the fact that he’s been a self-made billionaire since 2008.
He was only 23 at the time and joined the likes of Oprah Winfrey, Carlos Slim, Jeff Bezos and George Lucas. As of August 6, Zuckerberg’s wealth exceeded $ 100 billion, making him a billionaire, according to Bloomberg.
He shares this space with fellow tech entrepreneurs Bezos and Bill Gates and is the youngest member of this unique gang.
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How Mark Zuckerberg Became A Centibillionaire
You don’t often see the term centibillionaire, an indication that this is a difficult feat to achieve. Zuckerberg owes this to the new Instagram addition that launched on August 5th. In response to news that TikTok is facing a possible ban in the United States, Instagram, owned by Facebook, has rolled out Reels worldwide.
The latest feature of the popular app allows users to create short 15 second videos with special effects and music.
While it’s unclear whether Reels will beat TikTok’s use for influencers and other users, it raised Facebook’s share price at launch and therefore increased Zuckerberg’s wealth by 5.3. billion dollars in a few days.
Bloomberg reported that Zuckerberg owns a 13% stake in Facebook and that since the start of the year, his fortune has grown to around $ 22 billion. Its status may rise or fall depending on the stock price and the success of the Reels. Bezos remains the richest man on the planet.
Zuckerberg shares his wealth through an association
Zuckerberg and his wife Priscilla Chan continue to provide charitable assistance through their Chan Zuckerberg initiative. Since March, they have donated more than $ 50 million for coronavirus relief and research and have partnered with the Gates Foundation to study treatment options.
Additionally, in May, Zuckerberg and Chan made headlines after donating $ 800,000 to eight local Bay Area restaurants to keep them afloat during COVID-19 lockdowns.
In 2015, the couple announced their intention to sell 99% of their Facebook shares during their lifetime. In an open letter to their daughter Max, Chan and Zuckerberg pledged to invest this portion of their fortune to support learning, disease healing, science, community building and equality.
To date, the couple’s foundation has donated over $ 2 billion since its inception. For now, Instagram is helping Zuckerberg and Facebook maintain their popularity in the social media arena, but if Reels catches up with content creators and casual users, Zuckerberg’s net worth could rise again.