United States | News & Politics

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

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

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

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

and every one braver than the troops

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/

"Overeducated underemployed" kicks hard

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.

Gen Z starts in 97 (?), there's a couple of them: https://www.narcity.com/the-worlds-richest-gen-z-billionaires-were-ranked-heres-how-they-made-their-fortunes

updated to just provide the data

here are the official numbers from the fed for millennial wealth, it's actually lower at 4.4%

• https://www.federalreserve.gov/releases/z1/dataviz/dfa/distribute/chart/#range:1989.3,2020.4;quarter:125;series:Net%20worth;demographic:generation;population:1,3,5,7;units:shares

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.