this post was submitted on 30 Oct 2023
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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 11 months ago (3 children)

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 11 months ago (1 children)

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 11 months ago (2 children)
[–] Klear@sh.itjust.works 4 points 11 months ago* (last edited 11 months ago)

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

[–] Letstakealook@lemm.ee 20 points 11 months ago (1 children)

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

[–] Buttermilk@lemmy.ml 3 points 11 months 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 11 months 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 11 months ago

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

[–] sapphiria@lemmy.blahaj.zone 19 points 11 months ago (2 children)

Can we please not platform the wife torturing rapist?

[–] yogthos@lemmy.ml 6 points 11 months ago

updated to just provide the data

[–] SubArcticTundra@lemmy.ml 11 points 11 months ago (2 children)

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

[–] riskable@programming.dev 8 points 11 months ago (2 children)

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 11 months ago* (last edited 11 months 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 11 months ago* (last edited 11 months ago)
[–] AngryHumanoid@reddthat.com 9 points 11 months ago (1 children)

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

[–] dingleberry@discuss.tchncs.de 4 points 11 months ago

Wow! Wife beater is back.

[–] Ransom@lemmy.one 4 points 11 months ago

Holy shit indeed!

[–] Kecessa@sh.itjust.works 3 points 11 months ago (1 children)

Imma need a source for those numbers.

[–] yogthos@lemmy.ml -1 points 11 months ago (1 children)

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 11 months ago (1 children)

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 11 months ago (1 children)

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

[–] Kecessa@sh.itjust.works 4 points 11 months ago (26 children)

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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