CEO of world’s largest social-network sees $21.3Billion increase in net worth in 2023
CEO of the world’s largest social network, Meta Platforms, Mark Zukerberg, who is currently the fourteenth-richest man in the World, has witnessed a $21.3 Billion surge in his net worth since the beginning of the year, thanks to a sustained increase in the market value of his publicly traded assets in Europe. At the close of trading on Tuesday, March 14, his net worth rose by $21.3 Billion, propelling his wealth to $66.9Billion.
The majority of Zuckerberg’s wealth, according to the Bloomberg Billionaires Index, comes from a 13% investment in Meta Platforms, formerly Facebook, according to the company’s 2022 proxy statement. The co-founder and CEO of Meta Platforms, the organization that created Facebook, the largest social network in the world. According to a January 2022 company presentation, the Menlo Park, California-based corporation generated $117 billion in sales in 2022 and had roughly 3.6 billion monthly users, including about 2.9 billion on Facebook. On May 17, 2012, the company conducted the largest technology IPO in history, selling shares in the process.
Zuckerberg is well-known for his charitable work and has promised to donate a sizeable amount of his riches to a number of charitable causes. He started selling his shares in August 2016 to meet this commitment, but he is still given credit for the value of the shares he plans to donate. In 2004, Zuckerberg got a $500,000 investment from Peter Thiel and other venture capital firms, which marked the beginning of his engagement with Facebook. With co-founder Eduardo Saverin and the Winklevoss twins, he had legal challenges, and he and the FTC came to a 20-year deal to settle them. He has been involved in philanthropy as well, promising to give $100 million to the Newark, New Jersey, public school system and 36 million shares to the Silicon Valley Community Foundation. Notwithstanding his legal disputes and public relations issues, Zuckerberg has stayed dedicated to changing the world for the better.