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.
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)
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/
wtf. Does no one have a savings account anymore? Even the boomers?
63% of the workers can’t even afford a $500 emergency expense. So, no savings and tons of debt.
Most people misunderstand this stat, it is not that half of all wealth is Zuck, it’s that 2% of that 4% is his.
If I had a dollar for every time someone misunderstood percentages, I’d have 2% of all gen Z wealth
So like $20?
It’s not much but it’s strange that it happened 20 times.
Can we please not platform the wife torturing rapist?
updated to just provide the data
Imma need a source for those numbers.
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.
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.
The first link literally shows a graph of wealth distribution over time.
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.
Thanks for confirming what I just said, it doesn’t go back before that point.
I guess you’ll just have to find it on your own then. I’ve done enough free work for you here.
