Deepa Seetharaman and Meghan Bobrowsky October 29, Heard on the Street. Laura Forman and Dan Gallagher October 29, Sarah E. Needleman October 28, Meghan Bobrowsky October 26, Zuckerberg Named in Suit by Washington, D. Ryan Tracy October 20, Zuckerberg Breaks Silence on Whistleblower Testimony.
In early , 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 and have included only eating meat he killed himself and learning to speak Mandarin.
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. 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 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.
The surge bumped Zuckerberg past Berkshire Hathaway chief Warren Buffett to become the world's third-richest person, behind fellow tech titans Jeff Bezos and Bill Gates. Any gains were wiped out when Facebook shares dropped a staggering 19 percent on July 26, following an earnings report that revealed a failure to meet revenue expectations and slowing user growth.
The stock rebounded, and Zuckerberg remains one of the world's wealthiest people. In , Forbes ranked Zuckerberg at No. In June , Facebook announced it was getting into the cryptocurrency business with the planned launch of Libra in 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.
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.
Zuckerberg has been married to Priscilla Chan, a Chinese-American medical student he met at Harvard, since About 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, , and August, born on August 28, The couple announced they were expecting both of their children on Facebook.
When Zuckerberg welcomed Max, he announced he would be taking two months of paternity leave to spend with his family. Since amassing his sizeable fortune, Zuckerberg has used his millions to fund a variety of philanthropic causes. Then, in December , Zuckerberg signed the "Giving Pledge", promising to donate at least 50 percent of his wealth to charity over the course of his lifetime.
After his donation, Zuckerberg called on other young, wealthy entrepreneurs to follow suit. In November , Zuckerberg and his wife also pledged in an open letter to their daughter that they would give 99 percent of their Facebook shares to charity.
They also announced the founding of Chan Zuckerberg Biohub , a San Francisco-based independent research center that will bring together engineers, computer scientists, biologists, chemists and others in the scientific community.
We strive for accuracy and fairness. If you see something that doesn't look right, contact us! Subscribe to the Biography newsletter to receive stories about the people who shaped our world and the stories that shaped their lives. Due to his early signs of success, his parents got him a computer programming tutor while he was still in high school, and they enrolled him in a prep school in New Hampshire. After graduating from prep school, Zuckerberg enrolled at Harvard University. While many intelligent people attend Harvard University, Mark Zuckerberg became known quickly as the go-to computer programmer on campus.
By his sophomore year, he had already built two programs: CourseMatch and FaceMash. Based on his acclaim on campus, Zuckerberg partnered with friends to create a social networking site that allowed Harvard students to connect with each other. The site officially went live in June under the name "The Facebook," and Zuckerberg ran it out of his dorm room.
After his sophomore year, Zuckerberg dropped out of college to pursue what was now called Facebook, full-time. The website reached one million users by the end of This explosion of user growth attracted the attention of many venture capital VC firms, and Zuckerberg eventually moved out to Silicon Valley in By the end of , however, Facebook had opened up to students attending other schools, causing the website to reach 5.
On April 28, , Facebook released first-quarter earnings for Monthly active users, a key metric, totaled 2. As of Jan. However, many have criticized the method by which Zuckerberg is donating his fortune. The charitable foundation Zuckerberg and Chan have set up is a limited-liability corporation, not a charitable trust. This decision allows the two to do things that charitable trusts are not allowed to do, which in turn could make the foundation more effective, though it might also benefit their family more than a traditional trust.
Corporations can make for-profit investments and political donations. Unlike charitable trusts, corporations are not required to report their political donations.
In April , Zuckerberg testified before Congress after it was revealed that the company had shared users' data with the political consulting firm Cambridge Analytica. More recently, on January 7, , Facebook banned former President Donald Trump from Facebook and Instagram indefinitely, after he expressed support for the rioters at the U. Capitol on Jan. On May 5, , Facebook's oversight board said that the company was right to ban Trump, but wrong to make the ban indefinite, and that it must decide whether the suspension is for a set period of time, or permanent.
Giving Pledge. The New York Times. Committee of the Judiciary. Your Privacy Rights.
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