Famous Failure – Mark Zuckerberg

Born on 14th May 1984 in White Plains, New York, Mark Elliot Zuckerberg, is an American media proprietor, internet entrepreneur, and humanitarian. He is famously known as the co-founder of Facebook, the biggest social media platform – and also one of the richest people according to Forbes. On October 28, 2021, Facebook Inc. announced the rebranding of the company to Meta.com, bringing various brands under its umbrella such as Facebook, Instagram, WhatsApp, Threads etc.

Zuck launched Facebook on February 4, 2004. The site expanded drastically reaching one billion users by 2012. He became the only person under 40 years old in Forbes’ list of the 20 richest people. He became the inspiration for the popular movie “The Social Network”.

As of June 2024, his net worth is $177 billion, making him one of the richest people in the world. His father Edward Zuckerberg was a dentist and his mother Karen was a psychiatrist.

Mark was excellent in studies as evident from his prizes in mathematics, physics, astronomy, and classical studies. Even though he is a Harvard dropout, it has not stopped him from creating an impact through his social media website Facebook.

Mark being the visionary, sensed the upcoming demand of the virtual reality world, and in 2014, he acquired Oculus, a Virtual Reality Startup in a $2 billion deal. His dream is to create a Metaverse where people can own their digital properties in a virtual universe. He has given the project his most love and has burnt a lot of money to make it succeed.

A legal controversy that happened was criticism of Facebook, soon after starting up Facebook which started as thefacebook.com, Mark was sued by Cameron Winklevoss, Tyler Winklevoss, and Divya Narendra, resulting in immense frustration and stress.

That matter was agreed to be settled for 1.2 million Facebook shares. Before the launch of thefacebook.com, Mark launched the Facemash, a system that allowed students to pick the better-looking person from a set of photos, either male or female.

However, there were complaints from the students that their photos were being used without their consent and it was later sealed by Harvard, it demanded Mark to issue apologies and for the student paper to call the site “completely improper”.

Zuckerberg also donated 18 million Facebook shares to charity under “The Giving Pledge”. Mark married Priscilla Chan on May 19, 2012. They have two daughters.

Meta.com market valuation cap is around $1.21 trillion, making it one of the biggest companies in the world.

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