Mark Zuckerberg

Facebook* founder Mark Zuckerberg is one of the most powerful and wealthy people in the world. According to Forbes, he has a net worth of $64.7 billion and spends most of it on charities. But he also invests in real estate, especially Hawaii and cars. The Insider edition has compiled a list of the billionaire’s spending.

Last year, Zuckerberg’s fortune exceeded $100 billion, but since the beginning of this year, the entrepreneur Meta** has fallen sharply due to disruptions to his services and the release of a report showing a decline in his number of assets. Facebook users*. However, the billionaire has not yet switched to austerity. While Zuckerberg mostly keeps a low profile and doesn’t flaunt his wealth in fancy clothes or high-profile parties, he spends heavily on real estate, especially in tropical paradise Hawaii. He and his wife, Priscilla Chan, also invest in children’s education and medical research. So what does Zuckerberg spend his fortune on?

Clothes

Like other Silicon Valley residents, Zuckerberg doesn’t wear flashy suits – he wears simple jeans, T-shirts and sweaters. However, they are reportedly much more expensive than they appear and sell for hundreds or even thousands of dollars. Zuckerberg, for example, ordered his famous gray t-shirts from Brunello Cucinelli and they cost around $300-$400 per piece.

Cars

Zuckerberg is known for driving relatively cheap. He was seen driving an Acura TSX and a Honda Fit for less than $30,000. In 2014, while he was the third richest person in the world, he bought a black Volkswagen GTI with a manual transmission, which cost about $30,000. But it was later reported that the entrepreneur had spent serious money on at least one sports car: the Italian Pagani Huayra, which was on sale for around $1.3 million.

In July of this year, Zuckerberg posted a photo of two refurbished old Ford Broncos, one in pale blue and the other in black, with the caption “For him and her.” The price of these models is unknown, but it’s no secret that vintage cars are not a cheap hobby. A 1970 Ford Bronco costs between $70,000 and $100,000 on pro sites, but there are also more expensive examples.

Real estate

But the billionaire spends much more willingly on real estate – the expenses on this item can certainly be called the largest.

In May 2011, he bought a 500-square-foot home in Palo Alto for $7 million. The following year, Zuckerberg began buying real estate around his home and spent over $30 million buying four homes with the intent to redevelop them. It has been known to often buy neighboring houses for privacy reasons.

He also had a mansion in San Francisco. He bought a 500-square-foot home in 2013 and spent more than $1 million on renovations, including a greenhouse and a kitchen remodel. He sold the mansion for $31 million in July of this year, making it the largest residential real estate deal in San Francisco this year.

In 2014, the billionaire’s real estate portfolio was replenished with properties on the island of Kauai: a 144-hectare former sugarcane plantation and approximately 160-hectare of white sand Pilaa beach. Scandals accompanied the purchase of land and real estate in Hawaii. That’s why, in 2016, Zuckerberg angered neighbors by building an almost two-foot-high wall around his property, and in 2017 he sued Hawaiian families who claimed ownership of the land on his property. Locals accused him of “neocolonialism”, although he later withdrew the case.

That didn’t stop Zuckerberg. It spent $53 million to purchase approximately 243 hectares of land on Kauai in March 2021, and purchased another 44 hectares of land nearby for $17 million in December.

In Hawaii, the entrepreneur loves to relax and pursue his hobbies. For example, it was there that he was photographed riding on a $12,000 electric surfboard in the ocean off Kauai. The photo later became a meme. In addition, he trains to throw a bow and spear in his territory. While Zuckerberg travels for business, Meta** bears the costs: Keeping Zuckerberg and his family safe will cost the company $23 million in 2020.

In 2018, Zuckerberg forked two homes on the shores of Lake Tahoe that cost $59 million. Zuckerberg also has about 200 meters of shoreline between his two properties on the lake.

Charity organization

Zuckerberg, Bill Gates, Warren Buffett, and more than 200 millionaires and billionaires, who pledged to donate most of their wealth to charities. He plans to sell 99% of his Facebook* shares during his lifetime.

He and his wife are investing in The Chan Zuckerberg Initiative (CZI), a charity he founded in 2015 focused on “individual learning, curing disease, connecting people and building strong communities.”

Mark Zuckerberg with his wife and children

The foundation has provided nearly $3 billion in grants over the years. For example, in 2020 the organization invested $4.2 million in a Kauai employment program and provided $1 million to help the region fight the coronavirus. CZI also donated millions last year to causes such as criminal justice reform and affordable housing. The foundation also funds medical research. CZI launched a nonprofit called Biohub to begin research in the fields of genomics, infectious diseases, and implantable devices, as well as to begin the search for cures for a variety of diseases.

*Facebook is owned by Meta, a recognized extremist organization in the Russian Federation.

**Meta is recognized as an extremist organization in Russia.