May 27, 2024

Pathfinder News

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Mark Zuckerberg Makes N8.8Trn In 2021

Facebook and owner of Meta, Mark Zuckerberg made over N8 trillion in 2021 alone to make him N51.8 trillion richer. The Meta owner is the youngest person in the world to attain the billionaires’ list to attain a net worth of N41 trillion. The Bloomberg billionaires Index said Zuckerberg earned N8.8 trillion in 2021. Zuckerberg’s fortune is taken from a 13 per cent stake in Meta, which became the official name of the company in October. Facebook has over 2.8 billion active monthly users and it is the world’s largest social media network. In January, Facebook floated the largest IPO in history.

Facebook stakeholders went home smiling as the social media dominance continues in 2021 with an annualized return of nearly 25 per cent since its IPO in 2012. The social media giant is pivoting more towards virtual reality with its metaverse project. Because of this, Meta is planning to invest at least N4.1 trillion this year in the expansion of its metaverse. The metaverse is expected to reach a billion people and host hundreds of billions in digital commerce within the next decade, according to Zuckerberg in a founder’s letter in October.

The majority of Zuckerberg’s fortune will be donated to charity. The Newark, New Jersey, public school system got N41 billion Facebook shares in September 2010. Facebook CEO Mark Zuckerberg said the same day that he will donate 99% of the company’s stock to philanthropic projects in his lifetime. Reports say that Techprenuer, Mark Zuckerberg, has stated that he does not care about the money he lost or the number of users who left to other sites during an outage of his platforms on Monday, October 4, 2021.

Zuckerberg, who made this assertion said he was rather concerned about those who rely on his products to connect with friends and family. Also, the billionaire said the accusations of a whistleblower against Facebook platforms are untrue and do not depict Facebook and its sister platforms.