For comparison, Gen X had 9% of the wealth, and Boomers had 21%. The largest generation in history did everything they were told, became the most educated generation, and now they’re the poorest.
Here are the official numbers from the fed for millennial wealth
Zuckerburg owns a very large amount of Facebook stock, and he sells it on a pre-determined, fixed, schedule. The current amount of stock he has is around $80 billion.
To find out how much he’s sold on what schedule, the easiest answer is Yahoo Meta, insider transactions: https://finance.yahoo.com/quote/META/insider-transactions?p=META
You can also look at the their 2022 proxy report official in Meta SEC filings https://www.sec.gov/Archives/edgar/data/1326801/000132680122000043/meta2022definitiveproxysta.htm
Zuckerburg has 93,675,733 vested shares, 831,706 class A shares, and 349,745,790 class B shares a total of 350,577,496 shares (we don’t care about voting rights, just valuation). At today’s market value, those shares are worth $296.73 each (October 30, 2023). We multiple those numbers together and get $104,026,860,388.08.
So, that rounds to $104 billion dollars in Meta stock.
Finally, he controls additional shares via Chan Zuckerberg foundation, Mark Zuckerberg Trust, and assorted other groups.
Most people misunderstand this stat, it is not that half of all wealth is Zuck, it’s that 2% of that 4% is his.
If I had a dollar for every time someone misunderstood percentages, I’d have 2% of all gen Z wealth
So like $20?
It’s not much but it’s strange that it happened 20 times.
I’d have 2% of all gen Z wealth
depending on where in the world you live that might buy you a gallon of gas
Mark Zuckerberg can afford multiple gallons of gas
I understand it very well. My generation doesn’t have shit.
This is also true, just makes folks look silly when they think that half of all millennial wealth is one guy.
2% of the combined wealth of 75 million people is a whole fucking lot. One dude with as much money as 1.5 million average income millennials combined
Completely agree, and it’s obscene that this weird creep that made a stalking app for this college can now push industries with how much money he has in this amorphous value. But I just hope that people can be angry at these facts without being lost in a misunderstanding and think that half of all millennial wealth is one guy.
Yeah he’s rich as fuck but he’s not a trillionaire
Including OP who’s arguing with me that he understands math better than I do when he thinks that Zuckerberg owns close to 3T in wealth…
The most well educated baristas, shelf stockers, and call center workers in history.
and every one braver than the troopsThey hate Russia, because here is hard life and expluatative a womens…With strong power.
What is this comment even supposed to mean?
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When we do these wealth calculations, do we include debt? I would say the majority of my friends have negative wealth (tbf, a self selecting group of overeducated underemployed people)
Debt is usually not included as far as I know, and that makes the situation worse. Looks like typical debt in US is around 90k https://www.cnbc.com/select/average-american-debt-by-age/
wtf. Does no one have a savings account anymore? Even the boomers?
63% of the workers can’t even afford a $500 emergency expense. So, no savings and tons of debt.
My dad is a early millenial in his late 50s. I guess it does make a difference if I inform you that I’m from India. He has only ₹4 lacs in his bank account. I have ₹7k in mine. Neither my mother, nor my sibling has a bank account. Ask me how we live our daily life. We don’t - we survive. Better to just ingest rat poison and die that to live any longer.
That is rough comrade :(
we live in a sick world
And it’s hovered around that level for a long while. :(
No. The average American is 1 paycheck away from homelessness and cannot cover a $500 emergency.
This is and has been the endgame of capitalism, and fascism. Economic feudalism, where the many fight in a race to the bottom over the few pennies the wealthy toss for their own amusement.
My mom died with $600 to her name and had to live at my sisters house because that was all she could afford on Social Security.
“Overeducated underemployed” kicks hard
I wonder what Gen-Z’s gonna be like. No companies founded by my generation so far
Founding a company is easy: Do you have $150? You too can own a Florida corporation today (literally, within minutes).
I’m sure there’s tens of thousands of LLCs and S corporations owned by Gen Z. They’re just things like lawn care services, handyman, independent contractors, etc.
They may not be huge or popular or famous but I guarantee that there’s a lot of them. Because there’s far too many jobs that require you have a registered business and thousands of young people have these jobs.
Small businesses don’t have enough employees to underpay to give yourself millions of dollars for their labor.
Wrong! Zillions of Amazon delivery drivers are underpaid independent contractors with their own corporations.
What year do you think this is? These days corporations are good at exploiting FTE workers, workers who own their own business, and other, smaller corporations.
Are you implying that Amazon is a small business?
The delivery drivers are small businesses! Yes. 100% absolutely that is what I’m saying.
But none of those small businesses are paying their execs 20 million dollar salaries.
Hmm true, just no flashy multi billion dollar startups so far (we’re all probably still too inexperienced for that)
Gen Z starts in 97 (?), there’s a couple of them: https://www.narcity.com/the-worlds-richest-gen-z-billionaires-were-ranked-heres-how-they-made-their-fortunes
Can we please not platform the wife torturing rapist?
updated to just provide the data
There are now 41, 42, and 43 year old millennials too.
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Holy shit indeed!
Wow! Wife beater is back.
Imma need a source for those numbers.
here are the official numbers from the fed for millennial wealth, it’s actually lower at 4.4%
Zuckerburg owns a very large amount of Facebook stock, and he sells it on a pre-determined, fixed, schedule. The current amount of stock he has is around $80 billion.
To find out how much he’s sold on what schedule, the easiest answer is Yahoo Meta, insider transactions: https://finance.yahoo.com/quote/META/insider-transactions?p=META
You can also look at the their 2022 proxy report official in Meta SEC filings https://www.sec.gov/Archives/edgar/data/1326801/000132680122000043/meta2022definitiveproxysta.htm
Zuckerburg has 93,675,733 vested shares, 831,706 class A shares, and 349,745,790 class B shares a total of 350,577,496 shares (we don’t care about voting rights, just valuation). At today’s market value, those shares are worth $296.73 each (October 30, 2023). We multiple those numbers together and get $104,026,860,388.08.
So, that rounds to $104 billion dollars in Meta stock.
Finally, he controls additional shares via Chan Zuckerberg foundation, Mark Zuckerberg Trust, and assorted other groups.
I meant for the various generations.
What about when adjusted for demographic weight? Because I remember reading that millennials had the highest median net worth of all current generations.
The first link literally shows a graph of wealth distribution over time.
It doesn’t go back before 1989, at which point boomers were 40 to 44 and a much bigger % of the population compared to the small % of the population of millennials that are 40 to 42 at the moment.
That’s what the OP implies, if you’re comparing wealth at the same point in life that graphic isn’t the info you’re looking for.
Thanks for confirming what I just said, it doesn’t go back before that point.
I guess you’ll just have to find it on your own then. I’ve done enough free work for you here.
lmao dan price
