Mark Zuckerberg, Facebook and His Fortune

I have always been amazed of the accomplishment that Mark Zuckerberg has achieved. Just today, I just read from an article that says that he's become one of the wealthiest people in America today (or maybe for sometime) at age 26. Competing with other software giants, Facebook has gained its reputation as the number one social networking site on the world today and probably one of the most visited sites all over the world...

Mark Zuckerberg's wealth has recently reached $6.9 billion or £4.4 billion (that's his personal wealth folks) and ranks 35th among the richest people in America. Facebook was founded back in 2004 when Mark was still studying in Harvard. It all started out of fun to connect with fellow College students in Harvard, but eventually, like a virus the web app was distributed on different College Universities and eventually around the globe to make Facebook the social networking site phenomena as we know it today. Facebook enjoys a competitive advantage over other social media sites for its network effect.

Mark Zuckerberg | Facebook Founder - Interview with The Business Insider

Facebook wouldn't have been so successful without further financial assistance from a guy named Peter Andreas Thiel or Peter Thiel who was a venture capitalist. This is why I always talked about making connections. Peter Thiel owned 10.2% of the company initially which was worth  $500, 000.

Why so much fuzz about this guy? Because like him, I am also a coder... A software developer, a programmer, whatever you want to call me. Like me, he can create web apps, video games and other computer programs. He was certainly a higher caliber coder than I am right now but while his technical prowess contributed to his success, there was something more into this guy that made him what he is today. Putting your ideas into actions. Because unless our ideas are experienced, they are mere speculations. Like many great inventors, Zuckerberg looked back and connected the dots, envisioned (to make the world more open and connected) and made his vision materialize. In one of his interviews, Mark Zuckerberg emphasized on making bold decisions, and leverage which is common to all great entrepreneurs. I want to look up to him, like many others I long to follow... Bill Gates, Steve Jobs, Larry Ellison, Michael Dell, etc. Someday, to be an technopreneur as they call it. From programmer to entrepreneur.

Mark Zuckerberg and the entire Facebook story will be portrayed by Jesse Eisenberg and other casts in the movie entitled The Social Network. You can visit Mark Zuckerberg's Blog at http://blog.facebook.com/ (well, he's one of the bloggers). If there are any fans out there and think that I am making mistakes with my facts, please drop a comment below and I'll be glad to correct them.

 The Yakezie Challenge Continues! Here's to your weekend reading:

How To Start A Software Company And Exit At The Top: Interview With Michael Fountain, Co-Founder Of ModernBill
Money Magnet Tip: It's what you Save, not what you Earn that Matters
The Secret To Early Retirement
How To Budget Your Money Without Feeling Guilty
7 comments on "Mark Zuckerberg, Facebook and His Fortune"
Financial Samurai said...

6 years, 6 billion! Not bad! :)

ordinarywebguy said...

Entrepreneurs are nerds and that's why you can be one of them!

Tim said...

@Financial Samurai - Yeah, I wish he could adapt me.

@Ordinarywebguy - Hahaha. Sure, I really hope that's where I get to someday.

Jonha Ducayag Revesencio said...

Hey Tim,

Is Social Network showing in the Philippines now? I hope so. I've been looking forward for it though I got a feeling that Mark is only laughing at it big time.

He's probably the wealthiest among the web entrepreneurs under 30. Others are like Kevin Rose of Digg, Pete Cashmore of Mashable and others. These people knew what people NEED and Want and they created these platforms with pure ingenuity.

I'm a huge fan of Mark that's why I surround (virtually haha) myself with people that also like him and some that have actually worked with him and it's fun to hear stories of how he has succeeded and the little things that Facebook users don't know. Oh well, I really hope you would have one of those "aha" moments and finally realize what would truly make you truly successful.

All the best!

Jonha

Tim said...

Hi Jonha,

Thanks for dropping by. I don't think that the movie is in theaters yet. Yes, a lot of people don't know who he is... But I guess the purpose of his work is more important than people knowing who he is. It's all about taking action - to achieve those dreams and they have to be actions in-lined with your goals... I always pray that my actions would be in the right direction. Knowledge assures you and gives you confidence that you are indeed in the right direction.

Allan @ Rich Money Habits said...

Hey Tim!

Great stuff! I can totally relate with you. I am also a programmer (for mainframes, not too exciting). I too dream of one day being able to build something great...and perhaps be a technopreneur too.

I've watched the Social Network movie, I think late last year, and I really liked it. I've also read the book facebook effect and I really admire how Mark Zuckerberg's strategy of building facebook one school at a time paid off in the long run because they were able to manage their server's capacity well --- talking about learning from the mistakes of Friendster and Myspace. In the movie (or is it in the book?), it was also mentioned that whenever a competitor launched in one of the schools, they would immediately launch also on the same school and ALL the nearby schools around it. This speaks about Mark's competitiveness, treating business as a battlefield.

Not to mention that he also had the guts to turn down a Billion dollar offer to buy off facebook. Way to go!

By the way, thanks for linking to my article on budgeting without feeling guilty!

More power!

Tim said...

He's absolutely brilliant Allan which is why I like him because he's not just a geek and you can clearly see the entrepreneur in him.

I've only seen the movie, and have you seen how he held a contest to recruit interns (not sure if this part of the real story)?

I'm currently reading a book right now about technopreneurs and it's called "Founders at work". Interesting story about tech startups like PayPal, Hotmail, Blogger.com, etc.

Oh yeah, you'll be surprised to know that "Peter Thiel", the guy that funded Facebook was one of the co-founders of PayPal!

Sure, I don't mind linking to "quality content" and I will continue to do so in the future! Thanks for dropping by Allan!

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