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Millennials hold 4.4% of all wealth, and Zuckerberg single-handedly has 2% of that wealth. There are now millennials in their 40s! (lemmy.ml)
submitted 2 years ago* (last edited 2 years ago) by yogthos@lemmy.ml to c/usa@lemmy.ml
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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.

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[-] Buttermilk@lemmy.ml 79 points 2 years ago

Most people misunderstand this stat, it is not that half of all wealth is Zuck, it's that 2% of that 4% is his.

[-] morrowind@lemmy.ml 48 points 2 years ago

If I had a dollar for every time someone misunderstood percentages, I'd have 2% of all gen Z wealth

[-] TornadoRex@sh.itjust.works 33 points 2 years ago

So like $20?

[-] Klear@sh.itjust.works 4 points 2 years ago* (last edited 2 years ago)

It's not much but it's strange that it happened 20 times.

[-] Letstakealook@lemm.ee 20 points 2 years ago

I understand it very well. My generation doesn't have shit.

[-] Buttermilk@lemmy.ml 3 points 2 years ago

This is also true, just makes folks look silly when they think that half of all millennial wealth is one guy.

[-] Kecessa@sh.itjust.works 1 points 2 years ago

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...

[-] queermunist@lemmy.ml 32 points 2 years ago

The most well educated baristas, shelf stockers, and call center workers in history.

[-] sapphiria@lemmy.blahaj.zone 19 points 2 years ago

Can we please not platform the wife torturing rapist?

[-] yogthos@lemmy.ml 6 points 2 years ago

updated to just provide the data

[-] SubArcticTundra@lemmy.ml 11 points 2 years ago

I wonder what Gen-Z's gonna be like. No companies founded by my generation so far

[-] riskable@programming.dev 8 points 2 years ago

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.

[-] SubArcticTundra@lemmy.ml 1 points 2 years ago* (last edited 2 years ago)

Hmm true, just no flashy multi billion dollar startups so far (we're all probably still too inexperienced for that)

[-] Kecessa@sh.itjust.works 1 points 2 years ago* (last edited 2 years ago)
[-] AngryHumanoid@reddthat.com 9 points 2 years ago

There are now 41, 42, and 43 year old millennials too.

[-] dingleberry@discuss.tchncs.de 4 points 2 years ago

Wow! Wife beater is back.

[-] Ransom@lemmy.one 4 points 2 years ago

Holy shit indeed!

[-] Kecessa@sh.itjust.works 3 points 2 years ago

Imma need a source for those numbers.

[-] yogthos@lemmy.ml -1 points 2 years ago

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.

[-] Kecessa@sh.itjust.works 3 points 2 years ago

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.

[-] yogthos@lemmy.ml -3 points 2 years ago

The first link literally shows a graph of wealth distribution over time.

[-] Kecessa@sh.itjust.works 4 points 2 years ago

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.

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this post was submitted on 30 Oct 2023
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