This Is What Mark Zuckerberg, the Fifth Richest Man Alive, Really Spends His Money On
The fifth richest man alive, Mark Zuckerberg, has amassed a billion-dollar fortune at the young age of 35. However, the notoriously frugal CFO and founder of Facebook rarely makes news for ostentatious purchases.
We’ve uncovered the top eight things Zuckerberg spends money on, and some of them are downright fit for a billionaire. Plus, his largest expense and the shocking thing it’s doing for people worldwide (page 8).
1. His Silicon Valley ‘uniform’
- Average cost: $350 per shirt
Mark Zuckerberg is known for his casual work uniform: Grey T-shirt, blue hoodie, jeans, and a pair of Nike sneakers. What most don’t realize is that he buys more expensive tees than the average shopper — his are special ordered from Brunello Cucinelli and reportedly cost between $300 and $400.
Zuckerberg has a reason for his Silicon Valley uniform. In 2014 a fan asked why he never changed his outfits. “I really want to clear my life to make it so that I have to make as few decisions as possible about anything except how to best serve this community,” he replied.
Next: You’ll be surprised what the Zuck spends on his ride
2. Modest cars
- Average cost: $22,000
He could afford 10 of the world’s most expensive cars combined, yet Zuckerberg seems to prefer reasonably priced cars (by billionaire’s standards). He has been seen in a Volkswagon GTI, a Honda Fit, and an Acura TSX. The cars all fall below $30,000 in price.
Next: Hey, it’s commonly known that this is a great investment
3. Real estate
- Cost: $37,000,000
Zuckerberg and wife Priscilla Chan upgraded from Zuck’s modest Palo Alto home, currently known as “The Facebook House” and inhabited by hopeful future Zuckerbergs. They eventually moved into a $7 million, 5,000-square-foot mansion in Palo Alto.
The couple spent $30 million buying the surrounding property — reportedly just to prevent neighbors from having a look into the Zuckerberg lifestyle. When Zuckerberg bought the house in 2011, it was still considered “well below his means.”
Next: This is where his wealth starts to show
4. A personal vacation spot
- Cost: $100,000,000
In 2014 Zuckerberg bought 700 acres of the island of Kauai, Hawaii. The property included a former sugarcane plantation, the Kahu’aina, and a private white-sand oasis, Pila’a Beach. Forbes reported that the property cost him a cool $100 million.
The island cost Zuckerberg more than just the initial fees. In 2017 he filed, then dropped, a series of property lawsuits over the ownership of the Hawaii land. Zuckerberg attempted to buy out residents who might have had ownership stakes in the land but met resistance from Kauai’s locals.
Next: Some think he spent this money in an effort to start a political campaign
5. Touring the U.S.
- Cost: $8,800,000
Zuckerberg spent 2017 on a tour of America in an effort to get to know a small portion of the billions of Facebook users better. He dined with an Ohio family in their home, worked on a Ford factory assembly line, milked a cow in Wisconsin, and visited with former opioid addicts.
While the trip cost nearly $9 million, Facebook paid the expenses including his personal travel and security detail. “We require these security measures for the company’s benefit because of the importance of Mr. Zuckerberg to Facebook, and we believe that the costs of this overall security program are appropriate and necessary,” the company wrote.
Next: He spends money to find future Zuckerbergs
- Cost: Approximately $50,000,000
In 2016, Zuckerberg invested $50 million in an Indian education startup company, BYJU, dedicated to teaching kids basic school subjects via a mobile app. Zuckerberg and his wife lead the investment alongside other venture capital firms.
“I’m optimistic about personalized learning and the difference it can make for students everywhere,” Zuckerberg wrote on his personal Facebook page.
Next: He’s joined by other famous billionaires
7. The Giving Pledge
- Estimated cost: $1,000,000,000
Zuckerberg and his wife along with billionaires Bill Gates, Warren Buffett, Diane von Furstenberg, and over 100 others have signed the Giving Pledge. The pledge is a vow on behalf of some of America’s wealthiest to donate the majority of their earnings to philanthropic causes.
Zuckerberg plans to sell 99% of his Facebook shares — he currently owns 29.3% of Facebook’s Class A shares — over the course of his lifetime.
Next: Where Zuckerberg plans to spend most of his billions during his lifetime
8. The Chan Zuckerberg Initiative
- Estimated cost: $1,000,000,000 to $13,000,000,000
In 2015, the couple founded the Chan Zuckerberg Initiative. According to the website, it’s a “new kind of philanthropic organization” dedicated to combining engineering, grant-making, and advocacy work, among other things, to support scientific research.
At the time, Zuckerberg promised to sell/gift around $1 billion of their Facebook story to CZI each year. However, in 2018, they’re accelerating their giving: the CEO and his wife could sell as much as $13 billion over the next 13 months.
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