Facebook is an American based social networking technology that has a net worth of $527 billion. Facebook was founded by Mark Zuckerberg while he was a student at Harvard University in 2004 and it has since then garnered over 900 million members.
The company was private until its IPO in May 2012. In the IPO, Facebook was hoping to raise $10.6 billion by selling 337 million shares priced between $28 and $35 per share. Many facebook insiders were expected to sell many shares with the IPO. The Chief Executive Officer, Mark Zuckerberg sold $1.057 billion. He still owns over 500 million other shares that he will not sell in the IPO and that earned him a net worth of over $16 billion.
Currently, Mark owns about 400 million total shares of Facebook, he also owns around 12 million Class B shares. Through those shares, Mark has 53% voting rights over the company. Technically, Mark also controls co-founder Dustin Mosokovitz’s class B voting rights, so Mark has around 58% of the company’s total voting power. Mark Zuckerberg’s net worth topped $100 billion for the first time on August 7, 2020.