Mark Zuckerberg is co-founder and CEO of the social networking website, Facebook, as well as one of the youngest billionaires in the world.
Who is Mark Zuckerberg?
Born on May 14, 1984, in White Plains, New York, Mark Zuckerberg co-founded the social networking website Facebook from his university dormitory. Mark Zuckerberg left Harvard after his second year to concentrate on the site, whose user base has grown to more than 2 billion people, making Zuckerberg a multimillionaire. The birth of Facebook was portrayed in the 2010 film The Social Network.
Mark Elliot Zuckerberg was born on May 14, 1984, in White Plains, New York, into a comfortable, well-educated family, and grew up in the nearby town of Dobbs Ferry. His father, Edward Zuckerberg, ran a dental clinic attached to the family home. His mother, Karen, worked as a psychiatrist before the birth of the couple’s four children: Mark, Randi, Donna, and Arielle.
Zuckerberg developed an interest in computers at a young age; When Mark Zuckerberg was about 12 years old, he used Atari BASIC to create a message program that he called “Zucknet“. His father used the program in his dental office so that the receptionist could inform him of a new patient without shouting about the room. The family also used Zucknet to communicate inside the house. Along with his friends, Mark Zuckerberg also created computer games just for fun. “I had a group of friends who were artists,” he said. “They came, they drew things and I built a game.”
To keep up with Mark’s burgeoning interest in computers, his parents hired private computer tutor David Newman to come to the house once a week and work with Mark. Later, Newman told reporters that it was difficult to stay ahead of the prodigy, who began taking graduate courses at nearby Mercy College around the same time.
Zuckerberg later studied at Phillips Exeter Academy, an exclusive high school in New Hampshire. There Mark Zuckerberg showed talent in fencing, becoming the captain of the school team. He also excelled in literature, obtaining a diploma in the classics. However, Zuckerberg remained fascinated with computers and continued working on the development of new programs. While still in high school, he created an early version of the Pandora music software, which Mark Zuckerberg called Synapse. Several companies, including AOL and Microsoft, expressed interest in buying the software and hiring the teenager before graduation. Mark Zuckerberg rejected the offers.
After graduating from Exeter in 2002, Zuckerberg enrolled at Harvard University. In his second year at the Ivy League institution, he had developed a reputation as the software developer on campus. It was at that time that Mark Zuckerberg built a program called CourseMatch, which helped students choose their classes based on the course selections of other users. He also invented Facemash, which compared the images of two students on campus and allowed users to vote which one was more attractive. The program became tremendously popular but was then closed by the school administration after it was deemed inappropriate.
Based on the rumor of his previous projects, three of his fellow students, Divya Narendra, and the twins Cameron and Tyler Winklevoss, sought him out to work on an idea for a social networking site they called Harvard Connection. This site was designed to use information from the Harvard student networks in order to create a dating site for the Harvard elite. Zuckerberg agreed to help with the project but soon quit his job on his own social networking site with his friends Dustin Moskovitz, Chris Hughes and Eduardo Saverin.
Zuckerberg and his friends created a site that allowed users to create their own profiles, upload photos and communicate with other users. The group ran the site, called The Facebook, from a dormitory at Harvard until June 2004. After its second year, Zuckerberg left the university to devote to Facebook full-time and moved to Palo Alto, California. At the end of 2004, Facebook had 1 million users.
The rise of Facebook
In 2005, Zuckerberg’s company received a boost from venture capital firm Accel Partners. Accel invested $ 12.7 million in the network, which at that time was open only to students in the Ivy League. Then, Zuckerberg’s company granted access to other universities, secondary and international schools, which brought more than 5.5 million users to the site’s membership in December 2005. The site began to attract the interest of other companies, which wanted Advertise with the popular social center. Without wanting to sell, Zuckerberg rejected offers from companies such as Yahoo! and MTV Networks. Instead, it focused on expanding the site, opening its project to external developers and adding more features.
Zuckerberg did not seem to go anywhere, but in 2006, the business magnate faced his first major obstacle. The creators of Harvard Connection claimed that Zuckerberg stole their idea and insisted that the software developer had to pay for the losses of his business.
Zuckerberg apologized later for the incriminating messages, saying Mark Zuckerberg regretted them. “If you are going to build a service that is influential and that many people trust, then you must be mature, right?” Mark Zuckerberg said in an interview with The New Yorker. “I think I’ve grown and learned a lot.”
Although an initial $ 65 million agreement was reached between the two parties, the legal dispute over the matter continued well into 2011, after Narendra and the Winklevosses claimed they were deceived with respect to the value of their shares.
Zuckerberg faced another personal challenge when the 2009 book The Accidental Billionaires, by writer Ben Mezrich, hit stores. Mezrich was harshly criticized for his recounting of Zuckerberg’s story, which used invented scenes, reinvented dialogue and fictional characters. Regardless of how true the story was, Mezrich managed to sell the rights to the story to screenwriter Aaron Sorkin, and the critically acclaimed film The Social Network received eight Academy Award nominations.
Zuckerberg strongly objected to the narrative of the film and then told a New Yorker reporter that many of the details of the film were inaccurate. For example, Zuckerberg had been dating his long-time girlfriend, Priscilla Chan, a Chinese-American medical student he met at Harvard, since 2003. Mark Zuckerberg also said that he never had an interest in joining any of the final clubs. “It’s interesting what they focused on doing things right, like every shirt and fleece I had in that movie is actually a shirt or a fleece that I own,” Zuckerberg told a reporter at a launch conference in 2010. ” Then there is all this that they were wrong and a lot of random details that were right “.
However, Zuckerberg and Facebook continued to succeed, despite criticism. Time magazine named him Person of the Year in 2010, and Vanity Fair placed him at the top of his New Establishment list. Forbes also ranked Zuckerberg in 35th place, beating Apple CEO Steve Jobs on his “400” list, estimating that his net worth will be $ 6,900 million.
Since Mark Zuckerberg amassed his considerable fortune, Zuckerberg has used his millions to fund a variety of philanthropic causes. The most notable examples were presented in 2010. In September of that year, he donated $ 100 million to save the failed system of the Newark Public Schools in New Jersey. Then, in December 2010, Zuckerberg signed the “Donation Commitment”, promising to donate at least 50 percent of his wealth to charity throughout his life. Other members of Giving Pledge include Bill Gates, Warren Buffett and George Lucas. After his donation, Zuckerberg called on other young and wealthy entrepreneurs to do the same. “With a generation of younger people who have thrived thanks to the success of their businesses, there is a great opportunity for many of us to give back something earlier in our lives and see the impact of our philanthropic efforts,” Mark Zuckerberg said.
Make it public
Zuckerberg made two major changes in his life in May 2012. Facebook had its initial public offering, which raised $ 16 billion, which makes it the largest Internet IPO in history. The way in which Zuckerberg’s company will handle this influx of cash remains to be seen. But Zuckerberg may be looking for more acquisitions. Mark Zuckerberg personally negotiated the company’s agreement to buy Instagram the previous month.
Family and personal life
On May 19, 2012, a day after the IPO, Zuckerberg married his lifelong girlfriend, Priscilla Chan. About 100 people gathered at the couple’s home in Palo Alto, California. The guests thought they were there to celebrate Chan’s graduation from medical school. Instead, they witnessed how Zuckerberg and Chan exchanged their vows. In May 2013, Facebook made the Fortune 500 list for the first time, which makes Zuckerberg. At the age of 28, the youngest CEO on the list.
In November 2015, Zuckerberg and Chan welcomed their daughter, Max. Zuckerberg announced that she would take two months of parental leave to spend with her family. He and his wife also promised in an open letter to their daughter. They would give 99 percent of their Facebook shares to charity. “We will give 99% of our Facebook shares. Currently, about $ 45 billion, during our lives to join many others in improving this world for the next generation.”
In September 2016, Zuckerberg and Chan announced that the Chan Zuckerberg Initiative (CZI), the company in which they placed their Facebook shares, would invest at least $ 3 billion in scientific research over the next decade to help “heal, prevent and handle all diseases. ” in the lives of our children.
Chan Zuckerberg Biohub
They also announced the foundation of Chan Zuckerberg Biohub. An independent research center based in San Francisco that will bring together engineers. Computer scientists, biologists, chemists and others in the scientific community. A partnership between Stanford University, the University of San Francisco, and the University of California, Berkeley. Biohub will receive initial funding of $ 600 million in 10 years.
In March 2017, Zuckerberg and Chan announced on Facebook that they were expecting their second child. The daughter August was born on August 28.
The CEO has embarked on a personal challenge at the beginning of each year since 2009, with previous efforts including learning to speak Mandarin and only eating meat that had committed suicide.
False news and data leaks
After enduring criticism for the proliferation of fake publications on its site prior to the 2016 US presidential election. Zuckerberg announced in early 2018 his personal challenge to develop improved methods. These are defended by Facebook users from abuse and interference from nation-states.
“We will not avoid all errors or abuses. Currently, we make too many mistakes to implement our policies and avoid the misuse of our tools,” Mark Zuckerberg wrote on his Facebook page. “If we succeed this year, we will finish 2018 on a much better path.”
A data company linked to President Donald Trump’s campaign in 2016. They had used private information from more than 50 million. Facebook profiles without the social network will alert its owners.
Minnesota Senator Amy Klobuchar later asked Zuckerberg to appear before the Senate Judiciary Committee. A British lawmaker also sought testimony from the chief executive in a parliamentary inquiry into Russian attempts to influence the Brexit vote. The legal problems seemed to shake investors’ confidence in the social media giant. Facebook shares falling by 10 percent in the days following the publication of Cambridge Analytica news.
After a few days of silence, Zuckerberg came to light in various media to explain. How the company was taking measures to limit third-party developers’ access to user information. Mark Zuckerberg would be happy to testify before Congress. “We have a responsibility to protect your data,” he wrote in a Facebook post. If we can not, then we do not deserve to take care of it.”
On Sunday, March 25, Facebook took out full-page ads in seven British and three American newspapers. It’s written in the form of a personal letter from Zuckerberg. Apologizing for the “breach of trust” that led to the leakage of personal data from millions of people. Mark Zuckerberg promised that the company would investigate all its applications and remind users which ones to disconnect. “Sorry, we did not do more at that time,” Mark Zuckerberg wrote. “I promise to do better for you.”
Despite his show of accountability. Zuckerberg refused to appear before a UK parliamentary committee to analyze Facebook’s use of social media data. They offering to send to the company’s CTO or product manager in his office. However, Zuckerberg apparently felt, Mark Zuckerberg could not dodge US lawmakers. Reportedly began planning to testify before the House Energy and Commerce Committee in April.