Mark Zuckerberg, the 33-year-old author and CEO of Facebook, has a total assets of $74 billion. He’s the fifth-wealthiest person in the world, as per Bloomberg’s Billionaires Index, yet it appears he doesn’t have a preference for plushness, particularly with regards to autos, garments, and travel.
As an individual from the Giving Pledge and fellow benefactor of the Chan Zuckerberg Initiative, which he began with his better half and school sweetheart, Priscilla Chan, the Harvard dropout has committed quite a bit of his fortune to magnanimous causes.
In May 2012, eight years after its establishing, Facebook appeared on the New York Stock Exchange. At the time, it was the greatest innovation IPO ever. Every year from that point forward, Zuckerberg has included a normal of $9 billion to his total assets.
Like many other Silicon Valley stalwarts, Zuckerberg favors a uniform. Though casual in appearance, his signature gray T-shirts and hoodies are designed by luxury brands and are reportedly much more expensive than they look, retailing for hundreds and even thousands of dollars.
Zuckerberg is known for driving relatively inexpensive cars. He’s been seen in an Acura TSX, a Volkswagen hatchback, and a Honda Fit, all of which are valued at or under $30,000.
There’s one thing Zuckerberg doesn’t seem to mind splurging on: Real estate.
In May 2011, he purchased a 5,000-square-foot home — which he’s since deceived out with a “specially designed falsely shrewd aide” — in Palo Alto for $7 million. The following year, he started purchasing the properties encompassing his home, spending more than $30 million to procure four homes, with plans to level them and remake.
In 2014, the billionaire’s real-estate portfolio jumped the Pacific when he spent $100 million on two properties on the island of Kauai: the Kahu’aina Plantation, a 357-acre former sugarcane plantation, and Pila’a Beach, a 393-acre property with a white-sand beach. Zuckerberg said he and Chan bought the land because they’re “dedicated to preserving its natural beauty.
Zuckerberg doesn’t appear to travel much for pleasure. But when he does travel, Facebook foots the bill. Zuckerberg’s security detail and transportation cost the company nearly $5 million in 2015.
It’s likely the costs will be much higher this year, after Zuckerberg spent the summer traversing America as part of his personal goal to visit every US state in 2017. On his whirlwind tour, the CEO dined with a family
at their home in Ohio, met with former opioid addicts, worked on an assembly line at a Ford factory, met with members of the military, and even fed a calf.
Zuckerberg shared photos on Facebook of his experiences spending time in America’s heartland, and he seemed right at home. Ultimately, opulence and luxury are just a blip on Zuckerberg’s radar. In fact, his main priority is giving his money away, rather than spending it.
Zuckerberg is a member of the Giving Pledge, joining Bill Gates, Warren Buffett, and over 100 other billionaires vowing to donate the majority their wealth to philanthropy. He plans to sell 99% of his Facebook shares during his lifetime.
Zuckerberg has complete control over Facebook’s future, thanks to his majority voting rights. Facebook’s stock price has risen over 50% since April 2016, and Zuckerberg has said he plans to accelerate selling shares to fund The Chan Zuckerberg Initiative. He plans to sell 35 to 75 million shares over the next 18 months, totaling between $6 billion and $12 billion.
Some of his Facebook shares will go toward the Chan Zuckerberg Initiative, a philanthropic organization he founded with his wife in 2015 that’s focused on “personalized learning, curing disease, connecting people, and building strong communities.”
The Chan Zuckerberg Initiative is tackling both local and global issues. Last year, Zuckerberg and Chan invested $3 billion into research focused on curing the world’s diseases by the end of the century. Earlier in 2017, it partnered with housing startup Landed, giving $5 million to help at least 60 teachers in Redwood City and East Palo Alto, California purchase real estate.