Life & Culture Lifestyle

How Billionaires spend their money?

Astonishing new data has revealed that the five wealthiest entrepreneurs in the world have a massive combined net worth of more than $443 billion. From Amazon founder, Jeff Bezos, to Facebook creator, Mark Zuckerberg, it is safe to say that the world’s five foremost self-made business owners earn well into the billion-dollar bracket.

Despite many businesses and leaders promoting diversity as essential for the modern world, it is somewhat disappointing that the list reveals the top five billionaires primarily fit the white-male archetype, with four out of the five entrepreneurs both strongly Caucasian and hailing from the United States.

Mark Zuckerberg, the 33-year-old founder and CEO of Facebook, has a net worth just shy of $81.6 billion. Mark lived in a modest house even after Facebook valuation exceeded $1 billion. Mark’s 5,000-square-foot house in the Crescent Park neighborhood of Palo Alto cost him 7 million dollars. When Mark heard of a developer who wanted to buy a neighboring house, he purchased all of the houses surrounding him then rented them back. His main concern was privacy, not expanding his current house.

Mark Zuckerberg featured image

Mark Zuckerberg was also reportedly seen driving an Acura TSX, a car that can sell for lower than $50,000. Mark once said he likes it because ‘it’s safe and not ostentatious’. likewise, Mark spent &700,000, which is relatively a small number when compared to other jets, on his private jet. It’s believed he bought it mainly for business purposes.

Zuckerberg driving his Acura TSX featured image

Mark will give most of his money to charity. He donated to different charity foundations on many different occasions. The donations vary from millions to tens of millions. He signed the giving pledge in 2010, a type of agreement where a billionaire usually promises to give a large portion of his money to charity. Mark donated $100 million in 2010 with the goal of aiding public schools of Newark in New Jersey.

Just this week, Zuckerberg and his wife, Priscilla Chan, announced that they plan on curing disease. Like, all of them! Over the next decade, Zuck and Chan have pledged to donate $3 billion to “cure all disease.” Sounds like a great plan, especially when you compare $3 billion to NIH’s annual budget of $30 billion.

Mark Zuckerberg and wife Priscilla Chan featured image

According to the Wealth-X Billionaire Census 2018, there are now more global billionaires than ever before, powered by a vibrant technology sector, as well as dynamic growth in the number of ultra-wealthy individuals in Asia – which, for the first time, overtook North America as the home of the most billionaires.