Jeannine Mancini
·5 min read
Meta Platforms Inc. CEO Mark Zuckerberg significantly increased his wealth in 2023, adding $84 billion to his net worth, as reported by Business Insider. As of January 2024, he is the fifth-richest person in the world with a net worth of $139.1 billion, according to the Forbes Real Time Billionaire's List.
An increase of $84 billion in one year translates to an estimated $9.6 million per hour or approximately $230.6 million each day. For context, the median net worth for U.S. families is around $192,900, while the average is about $1.06 million.
In 2021, Facebook’s rebrand to Meta was a strategic move signaling a pivot toward the metaverse. This transition was not just a name change. It also represented a shift in the company’s focus to a future involving shared virtual spaces, augmented reality (AR) and virtual reality (VR) technologies. The rebrand aimed to position Facebook as more than a social media platform and marked its entry into creating an interconnected digital world.
Don't Miss:
Investing in real estate just got a whole lot simpler. This Jeff Bezos-backed startup will allow you to become a landlord in just 10 minutes, and you only need $100.
Passive income investments are one of the most trusted methods for riding out a recession, so it's no surprise that people are turning to high-yield real estate notes that pay a fixed 7.5% to 9%.
Ken Griffin says Miami will take New York's place as the U.S. Financial Capital. Here's how you can invest in the city with as little as $100 before that happens.
The rebrand, however, came at a time when Facebook was facing a series of challenges, including controversies over handling misinformation, mental health issues and user retention. Experts and analysts observed that while rebranding to Meta was a significant step, it would not immediately resolve these ongoing issues. The move was also seen as a strategic distraction from the company’s internal and external problems, reminiscent of corporate rebrands in the past where companies sought to change public perception amid crises.
Despite these challenges, by 2023, Meta’s share price had rebounded, nearing its all-time high. This recovery in stock value significantly boosted Zuckerberg’s net worth, reflecting investor confidence in the company’s long-term vision for the metaverse.
Despite his preference for T-shirts and lack of interest in flashy accessories like expensive watches, Zuckerberg has made significant investments in expanding his real estate portfolio. He recently made headlines for his luxurious and secretive compound in Kauai, Hawaii. The compound, known as Koolau Ranch, spans over 1,400 acres and features an array of high-end amenities and security measures. The project is estimated to have cost around $270 million, including $100 million for construction and $170 million for land acquisition.
The Koolau Ranch compound is designed to be a self-sustaining oasis, complete with a 5,000-square-foot underground shelter that houses its own energy and food supplies. This bunker is equipped with a concrete-filled metal door and is connected to the main residences via a tunnel. The compound also includes over 30 bedrooms and bathrooms, two mansions, nearly a dozen tree houses linked by rope bridges, a fitness center and guest houses.
Zuckerberg’s real estate ventures have consistently attracted attention, with his Hawaiian compound being the latest example. However, this isn’t his first foray into noteworthy property investments. In 2014, Zuckerberg’s second home, a renovation project in San Francisco’s Dolores Heights neighborhood, sparked tension among residents.
According to The San Francisco Chronicle, extensive construction activities, including the installation of kitchen equipment and fiber-optic cables, led to significant disruptions. The project saw a substantial number of workers on site, with estimates of 40 to 50 people working daily since April 2013. The scale and nature of the renovations led one neighbor to describe the residence as “nothing short of a fortress." He sold the home in 2022 for $31 million.
In addition to the compound, Zuckerberg has also delved into high-end cattle farming on his Hawaiian property. He has invested in raising Wagyu and Angus cattle, which are fed a unique diet including beer and macadamia nuts, aiming to produce some of the highest quality beef in the world.
Read Next:
Elon Musk has reportedly bought 6,000 acres of land just outside of Austin. Here’s how to invest in the city’s growth before he floods it with new tech workers.
Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." Here are 3 high-yield investments to add significant income to your portfolio.
Collecting passive income from real estate just got a whole lot simpler. A new real estate fund backed by Jeff Bezos gives you instant access to a diversified portfolio of rental properties, and you only need $100 to get started.
Photo courtesy: Anthony Quintano on Flickr
"ACTIVE INVESTORS' SECRET WEAPON" Supercharge Your Stock Market Game with the #1 "news & everything else" trading tool: Benzinga Pro - Click here to start Your 14-Day Trial Now!
Get the latest stock analysis from Benzinga?
This article Mark Zuckerberg Made Around $9.6 Million Per Hour Or $230.6 Million Per Day In 2023 — His Major Investments Include A 30-Bedroom/Bathroom Compound And Beer-Drinking Wagyu Cattle originally appeared on Benzinga.com
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
