Meta CEO Mark Zuckerberg is on the agenda again with Threads, the new social media platform released last Wednesday. While Threads, which was established as a competitor to Twitter, reached 10 million users within 7 hours of its establishment, it seems that Zuckerberg’s fortune will multiply with the revenues of this new platform. Meta shares are already on the rise with the launch of Threads.
When Mark Zuckerberg left Harvard, one of the world’s most respected universities, in 2004 to lay the foundations for the social media platform Facebook and other companies, he probably didn’t know that he would become one of the 10 people in the world with a net worth exceeding $100 billion. The public offering of Facebook, which became the most popular social media application until 2012, doubled Zuckerberg’s fortune. As of July 7, Zuckerberg’s wealth exceeded 106 billion dollars according to the Bloomberg billionaires index, as companies such as Facebook, WhatsApp, Instagram and Threads, which gathered under the roof of the Meta group of companies, gained value. And it’s worth remembering that the company’s CEO, Zuckerberg, only has a 13 percent stake in Meta, nor does he receive a salary.
Managing such a large fortune is not easy either. According to most billionaires, Zuckerberg leads a rather modest life with his wife, Priscilla Chan, and their two children. Instead of expensive dresses and accessories, she always prefers to wear solid-colored jeans, T-shirts or sweaters. He is seen driving cheap passenger cars instead of luxury cars. But Zuckerberg mostly invests his money in real estate investments. The US businessman draws attention with his investments, especially in the US city of San Francisco and the Hawaiian Islands.
ZUCKERBERG’S REAL ESTATE INVESTMENTS
Zuckerberg started making real estate investments in Palo Alto, a neighborhood within the Silicon Valley of San Francisco, where US technology companies have their bases. He first bought a 5 thousand square meter house here in 2011 for 7 million dollars. Over time, he bought the right to demolish and rebuild all 4 houses around his Palo Alto property for $30 million and expanded his Silicon Valley land.
Meta’s CEO has invested in real estate in San Francisco, not only in Palo Alto but also in the Mission area. He sold the house, which he bought on 5 thousand 500 square meters in 2013 and spent 1 million dollars to renovate, for 31 million dollars in 2022.
ACCOMMODATION LANDS IN HAWAII
In 2014, Zuckerberg set his sights on the Hawaiian Islands to expand his real estate portfolio. One of the states of the USA, the Hawaiian Islands in the middle of the Pacific Ocean began to acquire property one after another. Meta CEO initially bought a 1444-acre old sugarcane field on the island of Kaua’i and the 1590-acre Pila’a beach on the island. He paid a total of $100 million for these two plots. Zuckerberg, who surrounded these lands with a wall, became a lawsuit with the local people.
In 2021, Zuckerberg continued his land purchases on the island of Kaua’i. Zuckerberg, who first bought a land of almost 2500 acres for 53 million dollars, then added another 445 acres of land to his real estate portfolio for 17 million dollars.
Zuckerberg’s real estate investments are not limited to San Francisco and Hawaii, of course. The Brushwood Mansion, located on the shores of the touristic Lake Tahoe in California, USA, also belongs to Zuckerberg. Purchased in 2018, this mansion is worth $59 million, consisting of 2 houses, a guest house, a pier and shoreline.
HONEST CARS
Although known for real estate investments, Meta CEO is known to not prefer expensive cars. He was seen driving Acura TSX, Honda Fit and Volkswagen Golf GTI model cars, which were previously worth less than $30,000. Zuckerberg, who is also known to have two Ford Brancos pickup trucks, spent $1.3 million on a single Italian sports car brand Pagani’s Huayra model.
In addition to these investments, the famous businessman spends most of his wealth on the Chan Zuckerberg Initiative, which he founded with his wife. In 2017, Zuckerberg sold shares of the company worth $12 billion to the foundation, transferring it to the foundation. The foundation operates on medical research for the education of children and the treatment of certain diseases.
Sources: The Independent, Insider
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