Do You “Like” This? Zuckerberg Rents!
Facebook is one of the fasted growing companies of all time, with a current estimated net worth of $23 billion. Hollywood is even cashing in on Facebook’s success with the Oscar-touted film “The Social Network.”
So where on the wealth scale does that place Facebook co-founder and CEO Mark Zuckerberg? According to Forbes’ list of 400 Richest Americans, the 26-year old’s fortunes grew to a whopping $6.9 billion – $2 billion higher than the previous year. With a net worth in the billions, one would think it safe to assume Zuckerberg hangs his hat in a pretty pricey pad. But guess what?
Zuckerberg let Oprah Winfrey’s cameras inside his home (video above) allowing America to see he lives an extremely modest lifestyle sans a 9-car garage, resort-style swimming pool — or even a mortgage! That’s right, Zuckerberg is a month-to-month renter of a modest home in the College Terrace neighborhood of Palo Alto, CA (next door to YouTube co-founder Jawed Karim). During the short “day-in-the-life” segment that Oprah’s crew recorded, Zuckerberg reveals that he lives but a short walk away from the Facebook headquarters and admittedly spends a limited amount of time at home, working 16+ hours at the Facebook offices.
Interestingly, Zillow Real Estate Market Reports show that 56.5% of Palo Alto homes are decreasing in value. So, with long hours at the office and frequent trips to New York, perhaps renting isn’t the worst choice for Zuckerberg, despite his 10-digit valuation.