Mark Zuckerberg Early Life
Mark Zuckerberg, born on 14 May 1984. Mark Zuckerberg was raised in the quaint town of Dobbs Ferry, New York. He was born to Edward and Karen Zuckerberg, a dentist and psychiatrist, respectively. He has three siblings: Randi, Donna, and Arielle. A precocious child, Mark at age 12 created a messaging program called “Zucknet” using Atari BASIC. He also coded computer games for his friends at a young age. Zuckerberg is an American computer programmer and Internet entrepreneur. He is a Cofounder, Chairman and CEO, Facebook, and currently operates as its chairman and chief executive officer. His net worth is estimated to be $71.5 billion as of September 2017, and he is ranked by Forbes as the fifth richest person in the world. Zuckerberg launched Facebook from his Harvard University dormitory room on February 4, 2004. He was assisted by his college roommates and fellow Harvard students Eduardo Saverin, Andrew McCollum, Dustin Moskovitz, and Chris Hughes. The group then introduced Facebook to other college campuses. Facebook expanded rapidly, reaching one billion users by 2012. Meanwhile, Zuckerberg was involved in various legal disputes brought by others in the group, who claimed a share of the company based upon their involvement during the development phase of Facebook Mark Zuckerberg has a success story so great that most people could only wish for a tenth of what he’s managed to accomplish, and they’d still be overachieving individuals. Despite all of his success, though, he comes from a modest background and normal parents.
Mark Zuckerberg Biography and Profile
Mark Zuckerberg, born on 14 May 1984. Mark Zuckerberg was raised in the quaint town of Dobbs Ferry, New York. He was born to Edward and Karen Zuckerberg, a dentist and psychiatrist, respectively. He has three siblings: Randi, Donna, and Arielle. A precocious child, Mark at age 12 created a messaging program called “Zucknet” using Atari BASIC. He wasn’t just a computer nerd, though. Zuck loved the classics — “The Odyssey” and the like — and he became captain of his high school fencing team.
While attending high school at the renowned Phillips Exeter Academy in New Hampshire, he built an early music streaming platform, which both AOL and Microsoft showed interest in. Still a teen, he rejected offers for an acquisition or a job.
Who is Mark Zuckerberg?
Soon after Zuckerberg started at Harvard University in 2002, he earned a reputation as a skilled developer. His first hit was “Face mash,” a hot-or-not-style app that used the pictures of his classmates that he hacked from the school administration’s dormitory ID files. It got 22,000 page views from 450 people in the first four hours it was up. Harvard quickly ordered it to be taken down, citing copyright and security concerns.
Mark Zuckerberg, Cofounder, Chairman and CEO, Facebook, was born 14 May 1984. After facing another year of criticism for allowing fake news on Facebook, CEO Mark Zuckerberg said his priority in 2019 is tackling social issues. In July 2019, the Federal Trade Commission fined Facebook $5 billion, its largest penalty in history, for violating consumers’ privacy. Zuckerberg started Facebook at Harvard in 2004 at the age of 19 for students to match names with photos of classmates. He took Facebook public in May 2012 and still owns about 15% of the stock. In December 2015, Zuckerberg and his wife, Priscilla Chan, pledged to give away 99% of their Facebook stake over their lifetimes.
After graduating from Exeter in 2002, Zuckerberg enrolled at Harvard University. After his sophomore year, Zuckerberg dropped out of college to devote himself to his new company, Facebook, full time.
By his sophomore year at the Ivy League institution, he had developed a reputation as the go-to software developer on campus. It was at that time that he 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 pictures of two students on campus and allowed users to vote on which one was more attractive. The program became wildly popular, but was later shut down by the school administration after it was deemed inappropriate.
Based on the buzz of his previous projects, three of his fellow students—Divya Narendra, and 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 Harvard’s student networks in order to create a dating site for the Harvard elite.
Zuckerberg agreed to help with the project, but soon dropped out to work on his own social networking site, The Facebook.
Zuckerberg and his friends Dustin Moskovitz, Chris Hughes and Eduardo Saverin created The Facebook, a site that allowed users to create their own profiles, upload photos, and communicate with other users. The group ran the site out of a dorm room at Harvard University until June 2004. That year Zuckerberg dropped out of college and moved the company to Palo Alto, California. By the end of 2004, Facebook had 1 million users.
In 2005, Zuckerberg’s enterprise received a huge boost from the venture capital firm Accel Partners. Accel invested $12.7 million into the network, which at the time was open only to Ivy League students.
Zuckerberg’s company then granted access to other colleges, high school and international schools, pushing the site’s membership to more than 5.5 million users by December 2005. The site began attracting the interest of other companies that wanted to advertise with the popular social hub. Not wanting to sell out, Zuckerberg turned down offers from companies such as Yahoo! and MTV Networks. Instead, he focused on expanding the site, opening up his project to outside developers and adding more features.
In May 2012, Facebook had its initial public offering, which raised $16 billion, making it the biggest Internet IPO in history. After the initial success of the IPO, the Facebook stock price dropped somewhat in the early days of trading, though Zuckerberg is expected to weather any ups and downs in his company’s market performance.
In 2013, Facebook made the Fortune 500 list for the first time—making Zuckerberg, at the age of 28, the youngest CEO on the list
Harvard Connection claimed that Zuckerberg stole their idea
Zuckerberg seemed to be going nowhere but up. However, in 2006, the business mogul faced his first big hurdle: the creators of Harvard Connection claimed that Zuckerberg stole their idea, and insisted the software developer needed to pay for their business losses.
Zuckerberg maintained that the ideas were based on two very different types of social networks. After lawyers searched Zuckerberg’s records, incriminating instant messages revealed that Zuckerberg may have intentionally stolen the intellectual property of Harvard Connection and offered Facebook users’ private information to his friends.
Zuckerberg later apologized for the incriminating messages, saying he regretted them. “If you’re going to go on to build a service that is influential and that a lot of people rely on, then you need to be mature, right?” he said in an interview with The New Yorker. “I think I’ve grown and learned a lot.”
Although an initial settlement of $65 million was reached between the two parties, the legal dispute over the matter continued well into 2011, after Narendra and the Winklevosses claimed they were misled in regards to the value of their stock.
And for the last two years, Facebook has faced scandal after scandal. It’s been called out on multiple occasions for the way it handles user data, to the point where it’s led many to debate the pros and cons of free networks like Facebook that rely on advertisers for revenue. In 2018, Zuckerberg was summoned to give 10 hours of testimony to Congress as lawmakers sought answers about Facebook’s role in various events like the 2016 election and the Cambridge Analytica data-harvesting scandal.
In the midst of the scandals, Zuckerberg has defended Facebook and reiterated the company’s stated mission to connect the world with projects like bringing internet access to areas without less connectivity; through his charity work, he’s poured millions into education efforts and billions into initiatives for curing the world’s diseases.
Zuckerberg was criticized for the proliferation of fake news posts on his site leading up to the 2016 U.S. presidential election. In early 2018, he announced a personal challenge to develop improved methods for defending Facebook users from abuse and interference by nation-states. (Previous personal challenges began in New Year’s 2009 and have included only eating meat he killed himself and learning to speak Mandarin.)
“We won’t prevent all mistakes or abuse, but we currently make too many errors enforcing our policies and preventing misuse of our tools,” he wrote on his Facebook page. “If we’re successful this year then we’ll end 2018 on a much better trajectory.”
Zuckerberg came under fire again a few months later when it was revealed that Cambridge Analytica, a data firm with ties to President Donald Trump’s 2016 campaign, had used private information from approximately 87 million Facebook profiles without the social network alerting its owners. The resulting outcry seemed to shake investors’ confidence in Facebook, its shares dropping by 15 percent after the news became public.
Following a few days’ silence, Zuckerberg surfaced on various outlets to explain how the company was taking steps to limit third-party developers’ access to user information, and said he would be happy to testify before Congress.
On Sunday, March 25, Facebook took out full-page ads in seven British and three American newspapers, penned in the form of a personal apology from Zuckerberg. He promised the company would investigate all of its apps, and remind users which ones they can shut off. “I’m sorry we didn’t do more at the time,” he wrote. “I promise to do better for you.”
Amid increasing calls for his resignation from investor groups, Zuckerberg traveled to Capitol Hill and met with lawmakers ahead of his two-day testimony, scheduled for April 10 and 11. The first day of hearings, with the Senate Commerce and Judiciary Committees, was considered a tame affair, with some senators seemingly struggling to understand the business model that powered the social media giant.
The follow-up hearing before the House Energy and Commerce Committee proved far testier, as its members grilled the Facebook CEO over privacy concerns. During the day’s testimony, Zuckerberg revealed that his personal information was among the data harvested by Cambridge Analytica, and suggested that legal regulation of Facebook and other social media companies was “inevitable.”
Libra cryptocurrency business
In June 2019, Facebook announced it was getting into the cryptocurrency business with the planned launch of Libra in 2020. Along with developing the blockchain technology to power its financial infrastructure, Facebook established a Switzerland-based oversight entity called the Libra Association, comprised of tech giants like Spotify and venture capital firms like Andreessen Horowitz.
The news again put Zuckerberg in the crosshairs of Congress, which summoned the CEO to testify before the House Financial Service Committee in October. Despite providing assurances that Facebook would withdraw from the Libra Association if the project failed to garner approval from regulators, Zuckerberg faced pointed questioning from skeptical lawmakers who cited the Cambridge Analytica fiasco and other past transgressions.
Aaron Sorkin’s movie The Social Network was released
In 2010, screenwriter Aaron Sorkin’s movie The Social Network was released. The critically acclaimed film received eight Academy Award nominations.
Sorkin’s screenplay was based on the 2009 book The Accidental Billionaires, by writer Ben Mezrich. Mezrich was heavily criticized for his re-telling of Zuckerberg’s story, which used invented scenes, re-imagined dialogue and fictional characters.
Zuckerberg objected strongly to the film’s narrative, and later told a reporter at The New Yorker that many of the details in the film were inaccurate. For example, Zuckerberg had been dating his longtime girlfriend since 2003. He also said he was never interested in joining any of the final clubs.
“It’s interesting what stuff they focused on getting right; like, every single shirt and fleece that I had in that movie is actually a shirt or fleece that I own,” Zuckerberg told a reporter at a startup conference in 2010. “So there’s all this stuff that they got wrong and a bunch of random details that they got right.”
Yet Zuckerberg and Facebook continued to succeed, in spite of the criticism. Time magazine named him Person of the Year in 2010, and Vanity Fair placed him at the top of their New Establishment list.
Mark Zuckerberg Net Worth
With a net worth of $70 billion, the young CEO is credited with creating a social network that has more monthly active users than any single country in the world has people, and his majority voting rights give him complete control of the company — which also means he’s often the focal point of any backlash or scandal.
Mark Zuckerberg Family
Zuckerberg has been married to Priscilla Chan, a Chinese-American medical student he met at Harvard, since 2012. The longtime couple tied the knot one day after Facebook’s IPO. About 100 people gathered at the couple’s Palo Alto, California home for the ceremony. The guests thought they were there to celebrate Chan’s graduation from medical school, but instead they witnessed Zuckerberg and Chan exchange vows.
Zuckerberg has two daughters, Max, born on November 30, 2015, and August, born on August 28, 2017.
Mark Zuckerberg Biography and Profile