Spending the Facebook fortune wisely
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Facebook's imminent IPO will soon finalise Mark Zuckerberg's journey from bedroom computer coder to Silicon Valley superstar.
Still only 27, he has already been a billionaire on paper for several years, with Forbes estimating his personal wealth at $17.5bn. But with his current shareholding in Facebook standing at 28.4pc, his net worth is soon set to grow by multiples.
But don't expect his riches to go to the Facebook founder's head. Despite his immense fortune, Zuckerberg prefers T-shirts, jeans and trainers rather than the more salubrious trappings of wealth.
So forget snazzy restaurants and clubs, as he prefers heading out to student dive bars with friends to share a $10 jug of beer or to an all-you-can-eat buffet with his long-term girlfriend, Priscilla Chan.
He is also unlikely to be seen swishing around in a new sexy sports car, as he will remains content with his four-door Acura TSX (that's a Honda Accord to Europeans).
Indeed, after years of living in relatively frugal rented homes, Zuckerberg only bought his first house last year, which set him back $7m. However, this is pretty much spare change compared to the amount the likes of Bill Gates spend on their pads.
Zuckerberg might be one of the world's youngest billionaires, but he has no plans to keep it all for himself. He has already signed up to Bill Gates and Warren Buffett's initiative called the Giving Pledge, agreeing to give most of his wealth to charity.
And it is not his first foray into philanthropy. He has already given a cool $100m to Newark Public Schools as a sign of his dedication to help fix the US public education system.
However, this money is nothing compared to what he has committed to as part of the Giving Pledge. Along with 57 other multi-millionaire and billionaires, Zuckerberg has pledged more than half his wealth to charity, either during his lifetime or after.
So, it seems that Mark Zuckerberg, in his torn jeans, T-shirt and trainers, is content to continue living the student lifestyle.
Originally published in
