this post was submitted on 30 Oct 2023
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United States | News & Politics

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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.

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[–] Buttermilk@lemmy.ml 102 points 1 year ago (5 children)

Most people misunderstand this stat, it is not that half of all wealth is Zuck, it's that 2% of that 4% is his.

[–] morrowind@lemmy.ml 67 points 1 year ago (2 children)

If I had a dollar for every time someone misunderstood percentages, I'd have 2% of all gen Z wealth

[–] TornadoRex@sh.itjust.works 33 points 1 year ago (2 children)
[–] Klear@sh.itjust.works 4 points 1 year ago* (last edited 1 year ago)

It's not much but it's strange that it happened 20 times.

[–] Ho_Chi_Chungus@hexbear.net 12 points 1 year ago (1 children)

I'd have 2% of all gen Z wealth

depending on where in the world you live that might buy you a gallon of gas

Mark Zuckerberg can afford multiple gallons of gas

[–] Letstakealook@lemm.ee 34 points 1 year ago (1 children)

I understand it very well. My generation doesn't have shit.

[–] Buttermilk@lemmy.ml 12 points 1 year ago

This is also true, just makes folks look silly when they think that half of all millennial wealth is one guy.

[–] mar_k@hexbear.net 32 points 1 year ago (1 children)

2% of the combined wealth of 75 million people is a whole fucking lot. One dude with as much money as 1.5 million average income millennials combined

[–] Buttermilk@lemmy.ml 11 points 1 year ago

Completely agree, and it's obscene that this weird creep that made a stalking app for this college can now push industries with how much money he has in this amorphous value. But I just hope that people can be angry at these facts without being lost in a misunderstanding and think that half of all millennial wealth is one guy.

[–] berrytopylus@hexbear.net 3 points 1 year ago

Yeah he's rich as fuck but he's not a trillionaire

[–] Kecessa@sh.itjust.works 1 points 1 year ago

Including OP who's arguing with me that he understands math better than I do when he thinks that Zuckerberg owns close to 3T in wealth...

[–] queermunist@lemmy.ml 53 points 1 year ago (1 children)

The most well educated baristas, shelf stockers, and call center workers in history.

[–] BurgerPunk@hexbear.net 25 points 1 year ago (3 children)

fidel-salute and every one braver than the troops

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[–] keepcarrot@hexbear.net 25 points 1 year ago (2 children)

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)

[–] yogthos@lemmy.ml 17 points 1 year ago (1 children)

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/

[–] TonyTonyChopper@mander.xyz 3 points 1 year ago* (last edited 1 year ago) (2 children)

wtf. Does no one have a savings account anymore? Even the boomers?

[–] yogthos@lemmy.ml 3 points 1 year ago (3 children)
[–] pingveno@lemmy.ml 2 points 1 year ago

And it's hovered around that level for a long while. :(

[–] TonyTonyChopper@mander.xyz 2 points 1 year ago

we live in a sick world

[–] infinitevalence 1 points 1 year ago

No. The average American is 1 paycheck away from homelessness and cannot cover a $500 emergency.

This is and has been the endgame of capitalism, and fascism. Economic feudalism, where the many fight in a race to the bottom over the few pennies the wealthy toss for their own amusement.

My mom died with $600 to her name and had to live at my sisters house because that was all she could afford on Social Security.

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[–] SubArcticTundra@lemmy.ml 20 points 1 year ago (2 children)

I wonder what Gen-Z's gonna be like. No companies founded by my generation so far

[–] riskable@programming.dev 10 points 1 year ago (2 children)

Founding a company is easy: Do you have $150? You too can own a Florida corporation today (literally, within minutes).

I'm sure there's tens of thousands of LLCs and S corporations owned by Gen Z. They're just things like lawn care services, handyman, independent contractors, etc.

They may not be huge or popular or famous but I guarantee that there's a lot of them. Because there's far too many jobs that require you have a registered business and thousands of young people have these jobs.

[–] SubArcticTundra@lemmy.ml 3 points 1 year ago* (last edited 1 year ago)

Hmm true, just no flashy multi billion dollar startups so far (we're all probably still too inexperienced for that)

[–] sapphiria@lemmy.blahaj.zone 19 points 1 year ago (2 children)

Can we please not platform the wife torturing rapist?

[–] yogthos@lemmy.ml 5 points 1 year ago

updated to just provide the data

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[–] AngryHumanoid@reddthat.com 9 points 1 year ago (1 children)

There are now 41, 42, and 43 year old millennials too.

[–] dingleberry@discuss.tchncs.de 6 points 1 year ago

Wow! Wife beater is back.

[–] Ransom@lemmy.one 4 points 1 year ago

Holy shit indeed!

[–] Kecessa@sh.itjust.works 3 points 1 year ago (30 children)

Imma need a source for those numbers.

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