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.
See how the silent generation wealth is decreasing as time goes? That’s because they represent less and less of the total population, it’s not because they’re getting poorer as time goes. Boomers represent more and more of the population (% wise) as the preceding generation dies off and in the next 20 years you’ll see the same curve for boomer wealth, it will be going down as they die.
The post is about millennials not being equal to boomers at the same point in life? Well using the data you shared doesn’t prove that since it’s not adjusted for the % of the population each generation represents, it’s just total wealth for each generation. If Zuckerberg was the only millennial in existence your graph would show millennials as basically non existent and you would still come to the same conclusion even though the only millennial was a billionaire.
What you want is the average wealth for each generation at a certain age, adjust it for inflation and compare that, that’s how you prove your point.
The post is about millennials having the least wealth out of any generation, and the disparity in wealth clearly cannot be accounted for by the population distribution as you keep trying to claim. Also, what you actually care about is the median, but I’m not expecting you to understand the difference at this point.
“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%!