Mark Zuckerberg is that the founder, chairman, and CEO of Facebook (FB).
Here's
how he built the vastly successful social media business.
Early
Life and Education
Mark
Zuckerberg was born on May 14, 1984, in White Plains, New York, and was raised
in nearby Dobbs Ferry.1 He was born into a well-educated family and developed
an
interest
in computer programming at an early age.
At
the age of 12, Zuckerberg created a messaging program named Zucknet that he
implemented as an inter-office communication system for his father's practice
.2 due to his early signs
of
success, his parents got him a programming tutor while he was still in
highschool , and that they enrolled him during a preparatory school in New
Hampshire. After graduating from preparatory school , Zuckerberg enrolled at
Harvard University . Success Story While many intelligent people attend Harvard
University , Mark Zuckerberg became known quickly because the go-to programmer
on campus.
By
his sophomore year, he had already built two programs: CourseMatch and
FaceMash.2 Both programs became wildly popular, but the university pack up the
latter program after it had
been
deemed to be inappropriate. Based on his acclaim on campus, Zuckerberg
partnered with friends to make a social networking site that allowed Harvard
students to attach with one another . The site officially went sleep in June
2004 under the name "The Facebook," and Zuckerberg ran it out of his
dormitory . After his sophomore year, Zuckerberg dropped out of school to
pursue what was then called Facebook, full-time. The website reached one
million users by the end of 2004.3 This explosion of user growth attracted the
eye of the many risk capital (VC) firms, and Zuckerberg eventually removed to
Silicon Valley in 2005. Facebook received its first round of risk capital
investments from Accel Partners, which invested $12.7 million within the site
that was still only hospitable Ivy League students.2
By
the very best of 2005, however, Facebook had opened to students attending other
schools, causing the web site to realize 5.5 million users.2 Since 2005,
Facebook received numerous acquisition
offers
from the likes of Yahoo and Microsoft, has been through legal battles, and has
greatly increased its user base.
On
Oct. 30, 2019, Facebook released Q3 earnings. The company reported that daily
active users averaged 1.62 billion for September 2019, a rise of 9% year-over-year.
Monthly active users totaled 2.45 billion, an increase of 8% year-over-year.4
As of Jan. 30, 2020, the company has a market cap of $598 billion.5 Zuckerberg
owns over 375 million Facebook shares and holds 60% of voting rights in the
company. Net Worth & Current Influence Mark Zuckerberg features a net worth
of $78 billion as of Jan. 29, 2020.6 When it involves influence, Zuckerberg has
signed the Giving Pledge, which suggests he will donate a minimum of 50% of his
net worth to philanthropic causes before he dies.7 In 2010, for example, he
donated more than $100 million to save the Newark school system in New Jersey.8
When his daughter Max was born, Zuckerberg and his wife Priscilla Chan authored
an letter during which they pledged to supply away 99% of their net worth
during their lifetime.9 However, many have criticized the tactic by which
Zuckerberg is donating his fortune. The charitable foundation Zuckerberg and
Chan have found out may be a limited-liability corporation, not a public trust
. This decision allows the 2 to try to to things that charitable trusts aren't
allowed to try to to , which successively could make the inspiration simpler ,
though it'd also benefit their family more than a traditional trust.
Corporations can make for-profit investments and political donations. Unlike
charitable trusts, corporations aren't required to report their political
donations.
Bill Gates Success Story Point
In April 2018, Zuckerberg testified before Congress after it had been revealed that the corporate had shared users' data with the political consulting company Cambridge Analytica.10 Forbes has credited the
Bill Gates Success Story Point
In April 2018, Zuckerberg testified before Congress after it had been revealed that the corporate had shared users' data with the political consulting company Cambridge Analytica.10 Forbes has credited the
fast
drop of Facebook’s stock price following the company's July warning to
investors of slowing growth and profit margins to the growing impact of the
battle between profit and privacy, citing the Cambridge Analytica story and
Facebook's growing inability to guard users from harmful misuse and
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