Mark Zuckerberg’s net worth has grown over $40 billion in the last year alone. Here’s how the 36-year-old Facebook CEO makes and spends his $114 billion fortune.

Mark Zuckerberg and Priscilla Chan
Priscilla Chan and Mark Zuckerberg.

  • Mark Zuckerberg’s fortune passed $100 billion last year, making him one of eight centi-billionaires.
  • Zuckerberg drives an affordable car and wears basic clothes, but appears to splurge on real estate.
  • Zuckerberg and his wife, Priscilla Chan, also invest in childhood education and medical research.
  • See more stories on Insider’s business page.

It’s been a challenging year for Mark Zuckerberg.

He’s testified before lawmakers on multiple occasions, attempted to quash coronavirus misinformation on Facebook, and suspended President Donald Trump from the platform. And earlier this month, 533 million Facebook users’ personal data and phone numbers were leaked online.

At the same time, Zuckerberg is richer than he’s ever been. Last summer, after Facebook launched an Instagram feature to compete with TikTok in the US, Zuckerberg’s personal net worth reached over $100 million for the first time.

These days, his fortune has reached $114 billion.

Keep reading to learn more about how the Facebook cofounder makes and spends his centibillion-dollar fortune.

Taylor Nicole Rogers contributed to an earlier version of this story.

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.

mark zuckerberg facebook ipo nasdaq
Facebook Inc. CEO Mark Zuckerberg is seen on a screen televised from their headquarters in Menlo Park moments after their IPO launch in New York May 18, 2012.

Source: Business Insider

Most of Zuckerberg’s fortune is derived from his 13% stake in Facebook. While Facebook spent more than $25 million on him in 2020 alone, his take-home pay is just $1.

Mark Zuckerberg

Source: Bloomberg, Business Insider

Despite his status as one of the richest tech moguls, the 36-year-old Harvard dropout leads a low-key lifestyle with his wife, Priscilla Chan, and their two young daughters.

Mark Zuckerberg Priscilla Chan

Like many other Silicon Valley stalwarts, Zuckerberg doesn’t dress in flashy suits – he keeps things simple in jeans, t-shirts, and sweaters. But they’re reportedly much more expensive than they look, retailing for hundreds, and even thousands, of dollars.

Mark Zuckerberg

Source: Business Insider, GQ

Zuckerberg is known for driving relatively inexpensive cars. He’s been seen in an Acura TSX and a Honda Fit, both of which are valued at or under $30,000.

Mark Zuckerberg in his car

Sources: Business Insider, CNBC

He’s also been spotted driving a black Volkswagen Golf GTI, a car that he bought well after making his fortune. That car would cost about $30,000 new.

Volkswagen Golf GTI

Source: Business Insider

But he has dropped serious cash on at least one sports car: an Italian Pagani Huayra that sells for about $1.3 million.

mark zuck pagani huayra
Mark Zuckerberg and a Pagani Huayra. Not Zuckerberg’s actual car.

Source: Business Insider; Yahoo

There’s one thing Zuckerberg doesn’t seem to mind splurging on: real estate. In May 2011, he bought a 5,000-square-foot home in Palo Alto for $7 million. He’s since tricked it out with a “custom-made artificially intelligent assistant.”

mark zuckerberg house home palo alto 4x3

Source: San Francisco Chronicle, CNBC

The next year, Zuckerberg began buying the properties surrounding his home, spending more than $30 million to acquire four homes, with plans to level them and rebuild.

mark zuckerberg

Source: San Francisco Chronicle, CNBC

He also owns a townhouse in the Mission District of San Francisco. He bought the 5,500-square-foot home in 2013 and proceeded to make over $1 million in renovations, including adding a greenhouse and remodeling the kitchen.

san francisco dolores park covid social distancing park
People are seen at Dolores Park in the Mission District in San Francisco in May 2020.

Source: Curbed San Francisco

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.

Kauai, Hawaii
A beach in Kauai, Hawaii.

Source: Business Insider, Forbes

But the couple’s presence in Hawaii has drawn backlash over the years: In 2016, Zuckerberg angered neighbors by constructing a 6-foot wall around his property, and in 2017, Zuckerberg filed suit against Hawaiian families who had legal-ownership claims on parcels of land within his property. Though he dropped the suit, residents accused him of “neocolonialism.”

Kauai, Hawaii
A rainbow at Shipwreck’s Beach in Kauai.

Source: Business Insider

Zuckerberg has also shelled out for two lakefront properties on Lake Tahoe, which cost a combined $59 million. One of the houses, called the Brushwood Estate, spans 5,233 square feet on six acres of land. The property features a guest house and a private dock.

Zuckerberg Tahoe house

Source: Business Insider, SF Gate

Between his two Lake Tahoe properties, Zuckerberg owns about 600 feet of private shoreline on Lake Tahoe’s west shore.

Zuckerberg tahoe house

Source: Business Insider, SF Gate

 

When Zuckerberg buys properties, he tends to buy the other homes surrounding it for privacy reasons, just as he did in Palo Alto.

Mark Zuckerberg

Source: Business Insider

 

Zuckerberg doesn’t appear to travel much for pleasure. But when he traverses the globe for work, Facebook foots the bill: Security for Zuckerberg and his family cost the company $23 million in 2020, according to the company’s most recent proxy statement.

Mark Zuckerberg security

Source: Business Insider

But Zuckerberg’s travel mostly ground to a halt in 2020. He appeared to spend a lot of his time in Hawaii, riding a $12,000 electric surfboard and kayaking with his family.

 

Source: Business Insider, Daily Mail

But ultimately, opulence and luxury are just a blip on Zuckerberg’s radar. In fact, his main priority seems to be giving his money away, rather than spending it.

mark zuckerberg

Zuckerberg has signed onto the Giving Pledge, joining Bill Gates, Warren Buffett, and over 200 other millionaires and billionaires who have vowed to donate the majority of their wealth to philanthropy. He plans to sell 99% of his Facebook shares during his lifetime.

bill gates mark zuckerberg friends

Source: Business Insider

Zuckerberg said in September 2017 that he planned to sell 35 to 75 million shares over the following 18 months to fund the Chan Zuckerberg Initiative, totaling between $6 billion and $12 billion.

Mark Zuckerberg

Source: Business Insider

The Chan Zuckerberg Initiative is a philanthropic organization Zuckerberg founded with his wife in 2015 focused on “personalized learning, curing disease, connecting people, and building strong communities.” CZI has awarded roughly $2 billion in grants over the years.

Mark Zuckerberg and Priscilla Chan

Source: Business Insider, CZI

CZI is invested in tackling both local and global issues. In 2020, for example, the organization poured $4.2 million into a jobs program for residents of Kauai and committed $1 million to help the region battle the coronavirus. CZI has also contributed millions in the last year to causes like criminal justice reform and affordable housing.

chan zuckerberg initiative mark zuckerberg priscilla chan

Source: Business Insider, CZI

Zuckerberg and Chan have also poured billions into research focused on curing the world’s diseases by the end of the century. In order to accomplish this lofty goal, the Chan Zuckerberg Initiative launched a nonprofit called Biohub to start looking into the cure for disease, including research on genomics, infectious diseases, and implantable devices.

zuckerberg chan married

Source: Business Insider, Business Insider

Zuckerberg believes that Biohub will help speed up research to cure disease, telling The New Yorker in 2018 that “we’ll basically have been able to manage or cure all of the major things that people suffer from and die from today. Based on the data that we already see, it seems like there’s a reasonable shot.”

facebook ceo mark zuckerberg

Source: The New Yorker

Last August, the launch of a new Instagram feature designed to compete with TikTok sent both the company’s share price and Zuckerberg’s net worth to new heights. The move caused Zuckerberg’s net worth to exceed $100 million for the first time, making him one of only a few centi-billionaires on Earth. These days, he’s worth $114 billion.

mark zuckerburg
Zuckerberg.

Source: Bloomberg

Read the original article on Business Insider

Mark Zuckerberg and Priscilla Chan poured $4.2 million into a jobs program for residents of the Hawaiian county where they own a controversial $100 million compound

Mark Zuckerberg
Facebook CEO Mark Zuckerberg.

  • Mark Zuckerberg and his wife, Priscilla Chan, donated $4.2 million to a jobs program in Hawaii.
  • The program helps Kauai residents who lost their jobs amid the coronavirus pandemic.
  • Zuckerberg spent much of last year at his controversial $100 million compound in Kauai.
  • Visit the Business section of Insider for more stories.

Facebook CEO Mark Zuckerberg and his wife, Priscilla Chan, are pouring $4.2 million into a jobs program for residents of the Hawaiian county where they own a controversial $100 million compound.

Called the Rise to Work program, the initiative was created in 2020 for residents of the county of Kauai who lost their jobs amid the pandemic. But the program was funded by the initial economic stimulus bill last year and the funding expired this past December. Now, the program is being revived thanks to Zuckerberg and Chan’s donation.

Kauai Mayor Derek Kawakami said in a statement about the funding that he had shared with the Chan Zuckerberg team how successful the previous iteration of the program had been, and it eventually led to a donation from the couple.

“Through Priscilla’s and Mark’s generous donation of $4.2 million to the Hawaii Community Foundation, the Rise to Work program lives again – offering purpose and hope to people who are struggling,” Kawakami said.

Applications for the program opened on Monday. The program can support up to 400 workers – those who are selected will be placed in temporary jobs and will receive weekly pay and free health insurance. The program also helps local businesses, the county says, because it allows them to increase capacity without adding to their payroll costs.

“Our family cares deeply about Kauai, and we are pleased to support this valuable program that has far-reaching positive effects in a community we love,” Chan said in a statement.

Zuckerberg and Chan have been residents of Kauai since 2014, when they purchased a 750-acre compound on Kauai’s North Shore. They paid a reported $100 million for two separate properties: a 357-acre former sugarcane plantation called Kahu’aina Plantation, and a 393-acre parcel called Pila’a Beach.

While the couple and their two daughters are typically based in Palo Alto, California, near Facebook’s headquarters, it appears they’ve been spending time at their Hawaii home throughout the pandemic. They were seen on the island in June – government officials confirmed the family followed the state’s mandatory 14-day quarantine at the time – and Zuckerberg was spotted in July riding a $12,000 electric surfboard while covered in sunscreen. He was photographed again in December, albeit this time with less visible sunscreen.

In April, Zuckerberg and Chan committed $1 million to Kauai to help the region battle the coronavirus.

Read more: A drunken late-night assault allegation has roiled the secretive world of Mark Zuckerberg’s private family office. Personal aides are speaking out about claims that household staff endured sexual harassment and racism from their colleagues.

But the couple’s presence on the island has been controversial in the past. In 2016, Zuckerberg angered neighbors by constructing a 6-foot wall around his property with the intention of reducing “highway and road noise.”

One year later, Zuckerberg filed suit against Hawaiian families who had legal-ownership claims on parcels of land within his property. Zuckerberg said at the time that he filed the suit in order to “make sure smaller partial owners get paid for their fair share too,” but the move prompted backlash from residents who described the move as “neocolonialism.”

Zuckerberg later dropped the suit, saying that he and Chan wanted to “make this right, talk with the community, and find a better approach.” The parcels were later auctioned off, with three out of four being sold to a bidder who was reportedly backed by Zuckerberg.

Read the original article on Business Insider