Britannica Money (2024)

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The co-founder and CEO of the social media giant Facebook, in 2019.

© Anthony Quintano (CC BY 2.0)

in full:
Mark Elliot Zuckerberg
born:
May 14, 1984, White Plains, New York, U.S. (age 40)
Founder:
Facebook
Notable Family Members:
son of Edward Zuckerberg
son of Karen Kempner
married to Priscilla Chan (2012–present)
father of Maxima Chan Zuckerberg (b. 2015)
father of August Chan Zuckerberg (b. 2017)
brother of Randi Zuckerberg
brother of Donna Zuckerberg
brother of Arielle Zuckerberg

Top Questions

What is Mark Zuckerberg famous for?

Mark Zuckerberg is famous for being cofounder and chief executive officer of Facebook, the world’s largest social network Web site. He founded the service in 2004 while he was at Harvard University with four of his fellow students.

Why did Mark Zuckerberg drop out of college?

Mark Zuckerberg dropped out of college in 2004 to devote himself to Facebook, which he had founded at Harvard University with four fellow students there—Eduardo Saverin, Andrew McCollum, Dustin Moskovitz, and Chris Hughes.

Mark Zuckerberg (born May 14, 1984, White Plains, New York, U.S.) is an American computer programmer who was cofounder and CEO (2004– ) of Facebook, a social networking website.

After attending Phillips Exeter Academy, Zuckerberg enrolled at Harvard University in 2002. On February 4, 2004, he launched thefacebook.com (renamed Facebook in 2005), a directory in which fellow Harvard students entered their own information and photos into a template that he had devised. Within two weeks half of the student body had signed up. Zuckerberg’s roommates, Dustin Moskovitz and Chris Hughes, helped him add features and make the site available to other campuses across the country. Facebook quickly became popular as registered users could create profiles, upload photos and other media, and keep in touch with friends. It differed from other social networking sites, however, in its emphasis on real names (and e-mail addresses), or “trusted connections.” It also laid particular emphasis on networking, with information disseminated not only to each individual’s network of friends but also to friends of friends—what Zuckerberg called the “social graph.”

In the summer of 2004 the trio moved their headquarters to Palo Alto, California, where Zuckerberg talked venture capitalist Peter Thiel into giving them seed money. Zuckerberg dropped out of Harvard to concentrate on the fledgling company, of which he became CEO and president. In May 2005 Facebook received its first major infusion of venture capital ($12.7 million). Four months later Facebook opened to registration by high-school students. Meanwhile, foreign colleges and universities also began to sign up, and by September 2006 anyone with an e-mail address could join a regional network based on where he or she lived. About that time Zuckerberg turned down a $1 billion buyout offer from Yahoo!, but in 2007 Facebook struck a deal with Microsoft in which the software company paid $240 million for a 1.6 percent stake in Facebook; two years later Digital Sky Technologies purchased a 1.96 percent share for $200 million. In 2008 Zuckerberg’s new worth was estimated at about $1.5 billion. After Facebook’s initial public offering (IPO) of stock in 2012, Zuckerberg’s net worth was estimated at more than $19 billion.

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Facebook's chief executive, Mark Zuckerberg, talking about the Facebook News feature in 2019.

Drew Angerer/Getty Images News

In October 2021 Facebook announced that it was changing the name of its parent company to Meta Platforms. The name change reflected an emphasis on the “metaverse”, in which users would interact in virtual reality environments.

The Editors of Encyclopaedia BritannicaThis article was most recently revised and updated by Encyclopaedia Britannica.

Britannica Money (2024)

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Only 15 % of our revenue comes from Britannica content. The other 85% comes from learning and instructional materials we sell to the elementary and high school markets and consumer space. We have been profitable for the last eight years.

What is money short answer? ›

Money is any object that is generally accepted as payment for goods and services and repayment of debts in a given country or socio-economic context. The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, occasionally, a standard of deferred payment.

What is the total amount of money called? ›

The money supply is the total amount of money—cash, coins, and balances in bank accounts—in circulation.

Does saving money help the economy? ›

Personal savings are not just crucial for an individual's financial well-being; at the national level, when the rate of personal savings is high, economic recovery tends to be faster.

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Britannica's content is among the most trusted in the world. Every article is written, and continually fact-checked, by our experts. Subscribe to Britannica Premium and unlock our entire database of trusted content today.

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How can you earn money easily? ›

Want to make money fast? Here are 16 legit ways to do it
  1. Find unclaimed property.
  2. Sell unused gift cards.
  3. Trade in electronics.
  4. Take surveys.
  5. Sell clothes online.
  6. Be a rideshare driver.
  7. Make deliveries.
  8. Do Taskrabbit.

Who created money? ›

Historians generally agree that the Lydians were the first to make coins. However, in recent years, Chinese archaeologists have uncovered evidence of a coin production mint located in China's Henan Province thought to date to 640 B.C. In 600 B.C., Lydia began minting coins widely used for trading.

What did people use before money? ›

Historians generally agree that a system of bartering was likely used before this time. Bartering involves the direct trade of goods and services. For instance, a farmer may exchange a bushel of wheat for a pair of shoes from a shoemaker.

What is bigger than money? ›

American Entrepreneur and acclaimed motivational speaker and author Jim Rohn once said: “Time is more valuable than money. You can get more money, but you cannot get more time.” This is a concept that I feel many people would agree with.

Who backs the US money supply? ›

Government backs the money supply.

In the United States, the money supply is backed up by the government, which guarantees to keep the value of the money supply relatively stable.

What is M4 money? ›

What Is M4 Money? M4 money is a classification of money in the United Kingdom that includes money that is circulated amongst the public, non-financial institutions, private sector retail and wholesale banks, and building society deposits. 5.

What is the fallacy of thrift? ›

The paradox of thrift is an economic theory that argues that personal savings can be detrimental to overall economic growth. The theory is based on a circular flow of the economy in which current spending drives future spending.

What is the paradox of costs? ›

The paradox of costs is a macroeconomic relationship between the real wage (of workers) and the profit rate (of capitalists). First, in the static version, when real wages increase, all else being constant, consumption, capacity utilization, and hence income will also increase.

Is saving money worth it? ›

Saving money is a cornerstone of financial well-being, providing stability, security, and opportunities for long-term growth. Whether you're saving for emergencies, future expenses, or retirement, cultivating a habit of saving is essential for achieving financial independence and realizing your goals.

Why does Britannica cost money? ›

Britannica's commitment to rigor, research, fact-checking, and editing is the prevailing reason we remain the pivotal place of knowledge. Honoring this commitment is time-consuming, expensive work. How do I donate to Encyclopaedia Britannica?

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By sending UGC, you automatically grant to Britannica, a royalty-free, perpetual, irrevocable, non-exclusive license to use, reproduce, modify, publish, edit, translate, distribute, perform, and display it alone or as part of other works in any form, media, or technology whether now known or hereafter developed, and to ...

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