Facebook CEO, Mark Zuckerberg, made $3.3 billion last year by exercising his stock options in the social networking company he founded, according to the New York Post.
In 2012 the 29-year-old executive made $2.3 billion from his initial stake in the company. Zuckerberg sold 41.35 million shares of Facebook for $55.05 apiece in December to help pay the taxes on the 2012 windfall according to regulatory documents filed Monday.
Facebook stock hit $61 per share in January of this year making the company worth $150 billion. At 10 years old it hit that milestone faster than any company in history, according to Business Insider.
“He has more wealth than anybody could ever hope to use in a lifetime,” James Cody told Bloomberg at the time. Cody is a managing director at Harris myCFO, Inc.
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The rapid growth in the company’s value and Zuckerberg’s enormous stock options were made possible as he delivered on his promise to increase ad revenue from mobile devices. Investors apparently like what they have seen. It is reported that Facebook now gets over half of its revenue from advertising directed at smartphone and tablet users. In light of that the company’s stock has more than doubled in the last year.
Zuckerberg isn’t keeping all of the money for himself though. He and his wife, Priscilla Chan, donated $1 billion worth of stock to the Silicon Valley Community Foundation last year. That move put the couple at the top of the The Chronicle of Philanthropy’s list of most generous Americans.
“What he has done with his wealth so far speaks to the fact that he’ll do more good for charitable purposes,” Cody said.
Currently Zuckerberg owns 426.3 million Facebook shares. Although he only receives a $1 annual salary from the company, he is currently worth $25.7 billion. Even with giving away stock to charities, Zuckerberg is making over $2.5 billion a year on average. That’s not bad for a guy who founded his company in a Harvard dorm room.