Mark Zuckerberg, world’s 3rd centibillionaire, spends US$10 million a year on armed protection – but invested US$3 billion in curing the world's diseases (pre-coronavirus)
Only Jeff Bezos and Bill Gates are richer than Facebook’s founder and CEO, but aside from grey T-shirts and hoodies, how does the low-key centibillionaire spend his billions?
Mark Zuckerberg is richer than he's ever been.
Facebook's shares are on a tear after the company launched a new Instagram feature that will compete with TikTok in the US. The move propelled Zuckerberg's personal net worth to over US$100 billion for the first time.
Before the announcement, Zuckerberg had been having a tough summer. He faced fierce criticism for refusing to moderate Facebook posts in which President Trump called civil rights protesters “thugs” and suggested violence when he wrote “when the looting starts, the shooting starts” in the wake of George Floyd's death at the hands of Minneapolis police officers.
As a result, civil rights organisations including NAACP, Color of Change and Anti-Defamation League asked advertisers to stop paying for advertisements on Facebook. Many agreed, sending both Facebook's share price and Zuckerberg's net worth into a free fall.
Keep reading to learn more about how the Facebook co-founder makes and spends his centibillion-dollar fortune.
In May 2012, eight years after its founding, Facebook debuted on the New York Stock Exchange. At the time, it was the biggest technology IPO in history.
Each year since the IPO, Zuckerberg has added an average of US$9 billion to his net worth.
Despite his status as one of the richest tech moguls, the Harvard dropout leads a low-key lifestyle with his wife, Priscilla Chan, and their two young daughters.
