Wednesday, April 8, 2020

Where does Mark Zuckerberg spend his fortune?

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Mehboob Ali Shaikh
Mehboob Ali Shaikh
Mehboob Ali Shaikh is the Bureau Chief of World News Observer. Based in Canada, working with Toronto 360 TV. Mehboob has accomplished Years of experience in print and broadcast media. He is an active participant in Social media strategies, including Facebook, Twitter and Skype.

Mark Zuckerberg, founder and CEO Facebook averages $ 9 billion for its net worth every year. In May 2012, eight years after its inception, Facebook first appeared on the New York Stock Exchange. At that time, it was the largest IPO in a technology company in history, and every year since Facebook’s IPO.

Despite his status as one of the richest men in the world of technology, he lives a life of little extravagance with his wife, Priscilla Chan, and their two young daughters. The following highlights the life of Mark Zuckerberg and those who spend the money he collected from Facebook.

Zuckerberg prefers uniforms

Like many other managers in Silicon Valley, Zuckerberg prefers uniforms, but his distinctive gray shirts and jackets are designed by luxury brands and are said to be far more expensive than they look, selling for hundreds and even thousands of dollars.

Zuckerberg drives relatively cheap cars

Zuckerberg is famous for his passion for driving relatively cheap cars, as he was seen driving a car Acura TSX, Honda Fit, valued at less than $ 30,000, was spotted driving a Volkswagen Golf GTI, A car that costs about $ 30,000.

But that does not mean that he has not spent on at least one sports car, a car Pagani Huayra Italian, which is priced at about 1.3 million dollars.

Passionate of buying real estate

One thing Zuckerberg doesn’t seem to mind buying too much is real estate. In May 2011, he bought a 5,000-square-foot house in Palo Alto for $ 7 million.

The following year, Zuckerberg began buying properties around his home, spending more than $ 30 million to buy four homes, with plans to settle and rebuild them.

He also bought a 5,500-square-foot house in 2013 and paid over $ 1 million in renovations. In 2014, he spent $ 100 million on two properties on Kauai Island, a 357-acre sugar cane plantation, White sand.

His latest purchase was two real estate overlooking Lake Tahoe, which cost $ 59 million.

Recall that when Zuckerberg buys real estate, he tends to buy other surrounding homes for privacy reasons.

Zuckerberg doesn’t seem to travel much for fun

Zuckerberg doesn’t seem to travel much for fun, but he does work, so Facebook pays for his transfer, as the security details of Zuckerberg’s travel cost the company about $ 5 million in 2015.

Zuckerberg doesn't seem to travel much for fun

However, he sometimes spends hours with his family while traveling. Zuckerberg and Chan met with the Pope at the Vatican, and he used more than $ 1 million in Facebook money for personal travel in 2018, making it the most expensive year to date.

While in Europe, he posted photos of his seventh anniversary celebration with Priscilla Chan at the Parthenon in Athens, and in May 2019, he visited Paris to meet French President Emmanuel Macron.

 Mark Zuckerberg Security costs more

The cost of protecting Zuckerberg rose to more than $ 7 million in 2017, after spending the summer visiting US states as part of his personal goal of visiting every US state within a year.

On a nationwide tour, the CEO met with a family at their home in Ohio, worked on the assembly line at the Ford factory, met with military personnel, and shared Zuckerberg’s Facebook photos of his experiences in the heart of America.

In 2018, Facebook approved an annual security budget of $ 10 million for Zuckerberg For bodyguards, security measures for his homes, and private aircraft.

More on charity

Zuckerberg joins Bill Gates, Warren Buffett, and more than 100 billionaires who have pledged to donate the majority of their wealth to charity, and plans to donate 99% of his Facebook shares during his lifetime.

Zuckerberg more on charity

Zuckerberg said in September 2017 that he planned to sell 35 to 75 million shares, worth $ 6 billion to $ 12 billion, over the next 18 months to finance the Chan Zuckerberg Initiative, a charity he founded with his wife in 2015. On “personal learning, treating diseases, connecting people, building strong communities.”

Zuckerberg believes his nonprofit will help accelerate research to treat the disease. In the future, he says, “we will basically be able to manage or treat all the main things that people suffer and die from today”.

Read also: Zuckerberg: Facebook will announce six solar projects to support data centers

Mehboob Ali Shaikh
Mehboob Ali Shaikh
Mehboob Ali Shaikh is the Bureau Chief of World News Observer. Based in Canada, working with Toronto 360 TV. Mehboob has accomplished Years of experience in print and broadcast media. He is an active participant in Social media strategies, including Facebook, Twitter and Skype.

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