For comparison, Gen X had 9% of the wealth, and Boomers had 21%. The largest generation in history did everything they were told, became the most educated generation, and now they’re the poorest.
Here are the official numbers from the fed for millennial wealth
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.
“clearly cannot be accounted for by the population distribution”
Source please, what % of the population did boomers represent when they were 40 vs millennials that are currently 40?
Median or average in this case won’t really change a thing, as long as both sets of data are the same, the point is that you have yet to provide a source that confirms the conclusion brought forward by your post.
You’re the one who keeps trying to make the case here, so why don’t you look it up? It’s pretty obvious though that it must’ve been a lot higher than 2.4% (which is the millennial wealth excluding Zucc) in order to get to where it is in the data set. The fact that you continue arguing here instead of pulling up the data really says all we need to know. If you actually cared to prove your position then you’d pull up the numbers the way I did. You don’t do that because you just want to troll.
Zucc single handedly owns around half the millennial wealth, obviously there’s a big difference between average and median wealth.
You just proved you don’t understand what you’re sharing. Zuckerberg is 2% of millennial’s wealth, not 2% of everyone’s wealth 😂 That’s 2% of 4.8%!
I don’t pull the info because the burden of proof is on you.
I was very clearly talking about millennial wealth there. Work on your reading comprehension.
It's pretty obvious though that it must've been a lot higher than 2.4% (which is the millennial wealth excluding Zucc)Were you? Because from the original post it’s 4.8% (4.4% based on the other numbers) and Zuckerberg represents 2% of millennial wealth, not 2% of total wealth, which means 4.8% - (2% x 4.8%) = 4.704% or 4.4% - (2% x 4.4%) = 4.312%
Zuckerberg doesn’t own 40%+ of all of millennial’s wealth which is what you implied by saying that millennials without Zuckerberg = 2.4% (4.4 - 2) of total wealth 🙄
Yeah I was, hence why you should spend more time working on your reading comprehension to make your trolling more convincing
US total household wealth: https://www.reuters.com/article/us-usa-fed-wealth/u-s-households-ended-2020-with-record-130-2-trillion-in-wealth-fed-says-idUSKBN2B32H5
130T
4.4% of that is 5.72T
So you’re saying that Zuckerberg owns close to 3T in wealth? Making him the richest person in the world by an order of magnitude? That’s what you’re saying?
Man… You should tell Bloomberg!
https://www.bloomberg.com/billionaires/profiles/mark-e-zuckerberg/
Maybe YOU should work on your reading comprehension. 110B out of 5.7T? Look at that, about 2%!
oh look the troll finally pulls up some numbers 👏
All depends on how you actually count the wealth doesn’t it. American households carry a total of $17.1 trillion in debt as of the second quarter of 2023, and the average household debt is $101,915 as of the end of 2022. https://www.fool.com/the-ascent/research/average-household-debt/
So, that’s a bit at odds with your 130T figure in household wealth there. Can’t both be 100k in debt and have wealth at the same time. But maybe it’s that new math they tech you kids in school nowadays.
The 130T is backed by your own source.
Wealth includes possessions, you can be 100k in debt and still own a house worth 1m, you own 900k in total wealth, you’re still indebted.
Maybe you didn’t get economy classes in school 🤔
Funny how I proved you don’t understand the numbers and you just tried to change the subject and you’re wrong again.