Entrepreneur Profile: Mark Zuckerberg Net Worth, Bio, Ventures
He is known as the youngest billionaire in the world. Mark Zuckerberg, founder and CEO of Facebook, became the 52nd richest man in the world in 2011. Back then Mark Zuckerberg net worth was at $13.5 billion. Most people know the story of the social network billionaire who began his journey to fame in 2003 when he joined Harvard. In just a few years, some would say he revolutionized the Internet while others would say he stole it. Over time, Facebook has grown to be the top social network on the web. Everyone has a Facebook or used to have one, and while Twitter, MySpace, LinkedIn and a few others trail along, none of them have achieved the widespread success as much as Facebook. However, many questions have risen about Zuckerberg’s plans for Facebook and how this story ends.
Mark Zuckerberg was known to write software as early as middle school. His father showed him the ins and outs of Atari BASIC Programming and also hired David Newman to tutor his son privately. Newman would eventually call Zuckerberg a prodigy. His first program was called “ZuckNet,” which he developed in high school. It allowed all the computers between his home and his father’s dental practice to communicate like a precursor to AOL Instant Messenger, which would be released a year later.
He also built a music player called Synapse Media Player that was able to learn a person’s listening habits. It even received a 3 out of 5 rating from PC Magazine. While Microsoft and AOL pursued Zuckerberg and Synapse, he would turn both of them down in favor of enrolling in Harvard in 2002. It was here that he would begin development of “The Facebook.”
The beginnings of Facebook are murky at best. As movies like The Social Network portrayed, Zuckerberg was known for his programming talents. He created CourseMatch, which allowed Harvard students to select courses based on what courses other students had picked. This made it easier to form study groups or just be in the same class with people you liked.
His next program was called “Facemash,” which was more of a superficial program that allowed users to select the best looking person from a choice of photos. The popularity of the site caused trouble for Harvard. Not only did people not like their photos being used on a public website, but it overwhelmed Harvard’s network switches, which made it impossible for students to access the Internet. Zuckerberg apologized. The student paper would later call the site “completely improper.”
As Mark Zuckerberg net worth estimates have shown, his initial troubles at Harvard did not stop him from becoming the youngest billionaire in the world. This was just the start of Zuckerberg’s fame at Harvard. The prodigy would go on to do an even greater project that would greatly impact Harvard and eventually, the world.
Birth of Facebook
A year later in 2004, Zuckerberg was working on a new website. He had been in contact with Cameron Winklevoss, Tyler Winklevoss and Divya Narendra to build HarvardConnection.com, but instead he registered and launched his own social network called TheFacebook.com. He was the subject of a lawsuit brought by the Winklevoss brothers and Narendra, who accused Zuckerberg of stealing their idea. A settlement of 1.2 million Facebook shares would be reached, which was worth $300 million in 2012.
To pursue his dream of the ultimate social network, Zuckerberg dropped out of Harvard in his sophomore year. While Facebook started as just a Harvard social site, it started to include more ivy league colleges, and then it eventually included all colleges. Now it has grown to be the number one social network for everyone, but Facebook is so much more than how it began. If you have questions about just how that can be possible, just look at Mark Zuckerberg net worth statistics. His worth has jumped in recent years thanks to an integration of advertising, search engine, local business, gifts, games, apps and much more.
In 2010, Vanity Fair ranked Zuckerberg in first place on the list of Top 100 Most Influential People of the Information Age. At this point, Facebook was just beginning its climb to worldwide popularity. The social network launched Community Pages, which connected to Wikipedia. This was also the year that The Social Network by David Fincher would be released and reveal the beginnings of Facebook. Zuckerberg has said that the film is largely a fabrication. This would also be the year that a revolution in Egypt would start largely in part due to Facebook.
Facebook has continued to improve upon its offerings. The site acquired Instagram in 2012 and reached one billion active users. With all kinds of businesses joining Facebook, it’s not just a platform for friends and family. It’s a platform for everyone to comment, post images, host videos and advertise. You can even buy gifts on Facebook for friends.
While it is still called a social network, Facebook has received many have wondered about the motives behind the invasive nature of the site, which claims to own every photo ever uploaded to the site. In addition, advertising on Facebook can also target users and find friends from high school or even earlier based on your browsing history and other factors. All of this has led to an even greater Mark Zuckerberg net worth than even he ever though possible.
Current and Possible Ventures
In 2012, Facebook announced its plans for the Facebook phone. In April 2013, Facebook Home was released. It is a user interface layer for Android smartphones that was developed by the social network giant. The new screen would allow users to easily connect and post to Facebook. While Facebook has said that Facebook Home would be compatible with many devices, it is only available for HTC First, which has Facebook Home pre-installed. Reception has not been favorable to this release and improvements were released in June 2013. There has yet to be any more subsequent updates.
In his quest to get even more users on Facebook, Zuckerberg has partnered with almost all of the world’s largest mobile technology companies. This year he launched Internet.org. This new project is a partnership between Facebook, Samsung, Nokia and Qualcomm Inc. The goal is to get most of the world’s population, approximately 7 billion people, online as soon as possible. In a statement, Facebook announced that the group’s goal is to “make Internet access available to the two-thirds of thew world who are not yet connected.” This amounts to about 5 billion people.
The project includes making cheaper smartphones and tools that would reduce the data needs to run apps. As part of Facebook’s interests and probably Mark Zuckerberg net worth, it would add more users to the already 1.15 billion users that use Facebook. However Zuckerberg said in a statement that Internet.org is about more than Facebook. It wants to solve a larger problem where the majority of the world’s population is still not connected to the Internet. He wrote this as part of his paper “Is Connectivity a Human Right?” which was published on his Facebook page.
There are multiple rumors on what Zuckerberg’s new project will be. He was seen shaking hands with Eric Schmidt and Nikesh Arora of Google at DealBook, a conference held in Sun Valley, which could point to an even greater expansion of Facebook Home on the Google Android phone.
Mark Zuckerberg Net Worth 2013
The latest estimates on Mark Zuckerberg net worth come from Forbes’ list of 400 richest Americans, where he ranks in the top 20. The Facebook co-founder and current CEO is estimated to be worth $19 billion, yet he only claims a $1 per year salary per year. However, that is mostly to increase the value of his stock. Steve Jobs, Eric Schmidt and Sergey Brin also only pay themselves $1 per year to increase the value of their overall offerings.
The current Mark Zuckerberg net worth statistics reveal that the billionaire made more in one year than ever before. In fact, he more than doubled his salary from 2012, in which he only made $9 billion. Some estimates from The Bloomberg Billionaires Index show that Mark Zuckerberg net worth is actually more along the lines of $21.7 billion, but who’s counting?
One large increase in Mark Zuckerberg net worth is because of Facebook IPO, which closed at a one-year high of $34.36 on July 25th, 2013. Shares went up 29.6 percent in one day which increased Mark Zuckerberg net worth to $3.7 billion in one day.
“We had a lot of progress in the last three months on growing our community engagement, releasing a successful major product and generating strong financial results,” said Zuckerberg of his success this past July.
Zuckerberg is Facebook’s largest shareholder with 425 million shares. The CEO’s net worth is currently at its highest point ever since the first week of Facebook’s IPO in March 2012. Back then he was worth $17.5 billion. While there was an initial slump that placed the value of stocks at around $17 per share, Facebook stocks are now worth above $30 and climbing.
Zuckerberg’s success seems to only grow with the addition of new projects and offerings on Facebook. As the youngest billionaire, he has proven that large things can come from small beginnings, and you can even become a celebrity through innovative programming.
Share your comments below!