Mark Zuckerberg was born in White Plains, New York, on May 14, 1984, and grew in nearby Dobbs Ferry. He came from a well-educated household and showed an early interest in computer programming. Zuckerberg developed Zucknet, a messaging network for his father’s dental firm when he was 12 years old. His parents hired a computer programming tutor and enrolled him in a prep school in New Hampshire because of his early signals of success. Zuckerberg enrolled in Harvard University after graduating from prep school.
Even though Harvard University attracts many talented people, Mark Zuckerberg soon established himself as the campus’s go-to computer programmer. He had already created two programs, CourseMatch and FaceMash, by his freshman year. 1 Both programs were quite popular, but the latter was eventually shut down by the university because it was deemed improper.
Reflecting on his popularity in school, Zuckerberg teamed up with friends to launch a social networking site for Harvard students. The site, dubbed “The Facebook,” went live in June 2004 and was run by Zuckerberg from his dorm room.
After his college freshman year, Zuckerberg dropped out of college to focus full-time on what was then known as Facebook. By the end of 2004, the website had surpassed one million visitors.
According to Investopedia, Many venture capital (VC) firms were drawn to Zuckerberg’s explosive user growth, and he eventually relocated to Silicon Valley in 2005. Accel Partners invested $12.7 million in Facebook’s first round of venture capital funding when the site was still solely open to Ivy League students.
By the end of 2005, however, Facebook had expanded to include students from other schools, bringing the total number of users to 5.5 million. 1 Since 2005, Facebook has attracted multiple purchase approaches from companies like Yahoo and Microsoft, has faced legal fights, and has seen a significant expansion in its user base.
As per mentioned by Investopedia, Facebook revealed its first-quarter earnings for 2021 on April 28, 2021. The business announced quarterly revenue of $26.17 billion, up 48 percent from the year-ago quarter, and profits per share and net income that were above expectations. The number of monthly active users, a key indicator, increased by 10% year over year to 2.85 billion.
The corporation has a market capitalization of $932 billion as of January 30, 2020. Zuckerberg owns approximately 375 million Facebook shares and controls 60 percent of the company’s voting power. Zuckerberg, who has a net worth of $119 billion as of May 2021, has joined the Giving Pledge, pledging to contribute at least half of his fortune to charitable organizations before he dies.
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