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submitted 8 months ago* (last edited 8 months ago) by [email protected] to c/[email protected]

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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[-] [email protected] 101 points 8 months 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.

[-] [email protected] 66 points 8 months ago

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

[-] TornadoRex 33 points 8 months ago
[-] Klear 4 points 8 months ago* (last edited 8 months ago)

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

[-] [email protected] 12 points 8 months ago

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

[-] [email protected] 6 points 8 months ago

Mark Zuckerberg can afford multiple gallons of gas

[-] [email protected] 33 points 8 months ago

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

[-] [email protected] 12 points 8 months ago

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

[-] [email protected] 32 points 8 months ago

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

[-] [email protected] 11 points 8 months ago

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.

[-] [email protected] 3 points 8 months ago

Yeah he's rich as fuck but he's not a trillionaire

[-] Kecessa 1 points 8 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...

[-] [email protected] 52 points 8 months ago

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

[-] [email protected] 25 points 8 months ago

fidel-salute and every one braver than the troops

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[-] [email protected] 25 points 8 months ago

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)

[-] [email protected] 17 points 8 months ago

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/

[-] [email protected] 3 points 8 months ago* (last edited 8 months ago)

wtf. Does no one have a savings account anymore? Even the boomers?

[-] [email protected] 3 points 8 months ago
[-] [email protected] 2 points 8 months ago

we live in a sick world

[-] [email protected] 2 points 8 months ago

And it's hovered around that level for a long while. :(

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[-] [email protected] 20 points 8 months ago

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

[-] [email protected] 10 points 8 months 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.

[-] [email protected] 5 points 8 months ago

Small businesses don't have enough employees to underpay to give yourself millions of dollars for their labor.

[-] [email protected] 2 points 8 months ago

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.

[-] [email protected] 3 points 8 months ago

Are you implying that Amazon is a small business?

[-] [email protected] 3 points 8 months ago

The delivery drivers are small businesses! Yes. 100% absolutely that is what I'm saying.

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[-] [email protected] 3 points 8 months ago* (last edited 8 months ago)

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

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[-] [email protected] 19 points 8 months ago

Can we please not platform the wife torturing rapist?

[-] [email protected] 5 points 8 months ago

updated to just provide the data

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[-] [email protected] 9 points 8 months ago

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

[-] [email protected] 6 points 8 months ago

Wow! Wife beater is back.

[-] [email protected] 4 points 8 months ago

Holy shit indeed!

[-] Kecessa 3 points 8 months ago

Imma need a source for those numbers.

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this post was submitted on 30 Oct 2023
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