Facebook CEO Mark Zuckerberg has added an average of nearly $9 billion to his net worth each year since the social media company officially went public May 18, 2012, according to an analysis based on Bloomberg Billionaire’s Index.
The Index originally listed Zuckerberg’s net worth as $19.4 billion on the day of Facebook’s initial public offering. As of Wednesday, however, his total net worth estimation rose to $62.3 billion. Despite some considerable dips and relative stagnation earlier on, Zuckerberg raised the overall value of his financial and non-financial assets to $42.9 billion in five years.
The affluent tech mogul, currently ranked as the fifth richest man in the world, plans on donating almost all of his wealth by the end of his life.
“We will give 99% of our Facebook shares — currently about $45 billion — during our lives to advance this mission,” Zuckerberg writes in a lengthy Facebook post, specifically referencing “personalized learning, curing disease, connecting people and building strong communities.”
“We know this is a small contribution compared to all the resources and talents of those already working on these issues. But we want to do what we can, working alongside many others,” the magnate and philanthropist continued. (RELATED: Zuckerberg Seems To Be Doing A Better Job Of Campaigning Than Hillary)
Zuckerberg gives credit to his mom for his immense riches.
In a book published April, author Mike Hoefflinger recounts a conversation that Intel CEO Andy Grove had with Zuckerberg in which he asked the Facebook founder how he turned down Yahoo’s $1 billion acquisition offer.
“I just thought we could do it,” replied Zuckerberg, citing his belief that his business would grow way larger than people expected.
Hoefflinger’s perspective is that Grove was not asking in an overly critical way, but rather out of genuine curiosity since, at the time of the offer, Facebook only had around eight million users (compared to the billions today).
“Where does that willpower come from?” Grove inquired in a follow-up question.
“Jewish mother,” Zuckerberg replied.
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