The CEO of Meta Platform Inc., Mark Zuckerberg, significantly increased his net worth in 2023 by making about $9.6 million per hour. This hourly earning equals approximately $230.6 million per day, which added a total of $84 billion to his net worth in the same year, according to Business Insider.
An Increasing Net Worth
The $84 billion increase gave Mark Zuckerberg a total net worth of $139.1 billion, cementing his place as the fifth-richest person in the world as of January 2024, as reported by Forbes Real Time Billionaires List.
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Prior to 2021, Facebook faced some issues, including controversies over user retention, misinformation, etc., and although the company made a strategic move by rebranding to Meta, experts observed that the significant move would not solve the issues they had.
A Strategic Move
Facebook’s rebranding to Meta was seen as a strategic move to divert public attention from the company’s problems at that time.
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However, the tactical move was not just a change of name; it was a sign of the company’s shift to the metaverse, indicating that the company had shifted its focus to a future with shared virtual spaces, and virtual and augmented reality (AR and VR) technologies.
Aims and Objectives
The aim of changing Facebook to Meta was to show that the organisation could be more than a social media platform; it could be an interconnected digital world. The company achieved its objective, and despite its challenges, by 2023, Meta’s shares bounced back, almost reaching their all-time high.
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This significant recovery increased Mark Zuckerberg’s net worth, showing investors positive conviction in the company’s vision for the metaverse in the long run.
A Robust Portfolio
Apart from being the CEO of Meta Platform Inc., Mark Zuckerberg also has several expensive investments in his real estate portfolio, which he seems to keep expanding. In this portfolio is Koolau Ranch, his luxurious house in Kauai, Hawaii.
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It covers over 1400 acres of land, which he acquired for about $170 million, along with state-of-the-art amenities and security measures. Koolau Ranch land is estimated to have cost about $270 million, including land and construction costs estimated at $100 million.
A Sprawling Estate
Designed with a 5000-square-foot underground shelter that generates its own energy and supplies food, Koolau Ranch was designed to be self-sustaining.
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The ranch also has more than 30 bedrooms and bathrooms, two mansions, a fitness centre, about a dozen tree houses linked by rope bridges, and guest houses.
Astonishing as all of this may sound, that is not all; there is more.
Other Investments
Apart from Koolau Ranch, Mark Zuckerberg also has other noteworthy property investments. Another house, a renovated project in San Francisco, is another impressive real estate investment.
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As reported by The San Francisco Chronicle, the home, which is situated in the Dolores Heights neighbourhood in San Francisco, caused significant disruptions among residents during some of its extensive construction work.
“Nothing Short of a Fortress”
The project, which was a renovation, had up to 50 workers working daily on the site. Due to the nature and magnitude of the renovations, a neighbour described the residence as “nothing short of a fortress”. Mark Zuckerberg sold this fortress for $31 million in 2022.
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His real estate portfolio does not consist only of homes and fortresses; Mark Zuckerberg also has a high-end cattle farm
High-end Cattle Farming
It can be surprising to find out that the CEO of Meta Inc. is also a high-end farmer. Apart from real estate and his metaverse organisation, Mark Zuckerberg also invested in raising Wagyu and Angus cattle in his Hawaiian compound.
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These breeds of cattle are fed a unique diet, which includes beer and macadamia nuts. Weird as it may seem, the objective of this project is to produce some of the highest-quality beef in the world.
Zuckerberg’s Real Estate Ventures
Mark Zuckerberg’s real estate ventures, a significant part of his net worth, have unfailingly attracted attention, and his Hawaiian estate, with all its features, is proof of that, as it constantly makes consistent headlines in recent news. The renovations he made to his home in the Dolores Heights neighbourhood, San Francisco, which caused a stir among surrounding residents, is also another example.
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In addition to these structural investments, is his impressive high-end cattle farm where he breeds some particular types of cattle.