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.
So you’re saying zucc has half of all millennial wealth? Or a fiftieth? My head’s swimming in all those numbers 😵💫
It’s probably less than that in practice, but it all depends on how you count the wealth. Given that the average person is like 100k in debt, it might be fair to say that a lot of millennials have negative wealth at this point.
Yeah in practice most of us are indentured servants so I’d say it’s more than that haha…
Can’t imagine what the statistic will be for Gen Z, I can imagine how low of a number it’ll be, but something tells me I’ll be even more shocked than my already low-expectation.
When these vampire billionaire ghouls die and leave their wealth to their grandchildren, the gen Z stats will shoot up and every taking head will be talking like, ‘See, Gen Z listened when we told them that millennials were poor because they bought avocado on toast.’
I’m a millennial and my wealth is currently slightly negative.
I think I’m technically net positive but it sure doesn’t feel like it.
2% of the millennials’ wealth (i.e. 0.088% of all wealth)?
