Britannica Money (2024)

Britannica Money (1)

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The co-founder and CEO of the social media giant Facebook, in 2019.

© Anthony Quintano (CC BY 2.0)

in full:
Mark Elliot Zuckerberg
born:
May 14, 1984, White Plains, New York, U.S. (age 40)
Founder:
Facebook
Notable Family Members:
son of Edward Zuckerberg
son of Karen Kempner
married to Priscilla Chan (2012–present)
father of Maxima Chan Zuckerberg (b. 2015)
father of August Chan Zuckerberg (b. 2017)
brother of Randi Zuckerberg
brother of Donna Zuckerberg
brother of Arielle Zuckerberg

Top Questions

What is Mark Zuckerberg famous for?

Mark Zuckerberg is famous for being cofounder and chief executive officer of Facebook, the world’s largest social network Web site. He founded the service in 2004 while he was at Harvard University with four of his fellow students.

Why did Mark Zuckerberg drop out of college?

Mark Zuckerberg dropped out of college in 2004 to devote himself to Facebook, which he had founded at Harvard University with four fellow students there—Eduardo Saverin, Andrew McCollum, Dustin Moskovitz, and Chris Hughes.

Mark Zuckerberg (born May 14, 1984, White Plains, New York, U.S.) is an American computer programmer who was cofounder and CEO (2004– ) of Facebook, a social networking website.

After attending Phillips Exeter Academy, Zuckerberg enrolled at Harvard University in 2002. On February 4, 2004, he launched thefacebook.com (renamed Facebook in 2005), a directory in which fellow Harvard students entered their own information and photos into a template that he had devised. Within two weeks half of the student body had signed up. Zuckerberg’s roommates, Dustin Moskovitz and Chris Hughes, helped him add features and make the site available to other campuses across the country. Facebook quickly became popular as registered users could create profiles, upload photos and other media, and keep in touch with friends. It differed from other social networking sites, however, in its emphasis on real names (and e-mail addresses), or “trusted connections.” It also laid particular emphasis on networking, with information disseminated not only to each individual’s network of friends but also to friends of friends—what Zuckerberg called the “social graph.”

In the summer of 2004 the trio moved their headquarters to Palo Alto, California, where Zuckerberg talked venture capitalist Peter Thiel into giving them seed money. Zuckerberg dropped out of Harvard to concentrate on the fledgling company, of which he became CEO and president. In May 2005 Facebook received its first major infusion of venture capital ($12.7 million). Four months later Facebook opened to registration by high-school students. Meanwhile, foreign colleges and universities also began to sign up, and by September 2006 anyone with an e-mail address could join a regional network based on where he or she lived. About that time Zuckerberg turned down a $1 billion buyout offer from Yahoo!, but in 2007 Facebook struck a deal with Microsoft in which the software company paid $240 million for a 1.6 percent stake in Facebook; two years later Digital Sky Technologies purchased a 1.96 percent share for $200 million. In 2008 Zuckerberg’s new worth was estimated at about $1.5 billion. After Facebook’s initial public offering (IPO) of stock in 2012, Zuckerberg’s net worth was estimated at more than $19 billion.

Britannica Money (2)

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Britannica Money (3)

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Facebook's chief executive, Mark Zuckerberg, talking about the Facebook News feature in 2019.

Drew Angerer/Getty Images News

In October 2021 Facebook announced that it was changing the name of its parent company to Meta Platforms. The name change reflected an emphasis on the “metaverse”, in which users would interact in virtual reality environments.

The Editors of Encyclopaedia BritannicaThis article was most recently revised and updated by Encyclopaedia Britannica.

Britannica Money (2024)

FAQs

How does Britannica earn money? ›

Only 15 % of our revenue comes from Britannica content. The other 85% comes from learning and instructional materials we sell to the elementary and high school markets and consumer space. We have been profitable for the last eight years.

Does the Encyclopedia Britannica still exist? ›

The 2010 version of the 15th edition, which spans 32 volumes and 32,640 pages, was the last printed edition. Since 2016, it has been published exclusively as an online encyclopaedia.

What are four types of money? ›

Different 4 types of money
  • Fiat money – the notes and coins backed by a government.
  • Commodity money – a good that has an agreed value.
  • Fiduciary money – money that takes its value from a trust or promise of payment.
  • Commercial bank money – credit and loans used in the banking system.
Jul 11, 2023

Is the Britannica a reliable source? ›

Britannica's content is among the most trusted in the world. Every article is written, and continually fact-checked, by our experts. Subscribe to Britannica Premium and unlock our entire database of trusted content today.

How much does Britannica pay? ›

The average Encyclopædia Britannica hourly pay ranges from approximately $19 per hour (estimate) for a Front Desk Receptionist/Shipping and Receiving Clerk to $51 per hour (estimate) for a Manager. Encyclopædia Britannica employees rate the overall compensation and benefits package 2.6/5 stars.

Why does Britannica cost money? ›

Britannica's commitment to rigor, research, fact-checking, and editing is the prevailing reason we remain the pivotal place of knowledge. Honoring this commitment is time-consuming, expensive work.

Is Britannica no longer free? ›

Britannica Premium Benefits

You will not be charged during your free trial, and you can cancel at any time. If you decide not to cancel your subscription, your service will continue at $1.44 a week (billed annually at $74.95) for your first year and renew after that year at the then-current rate annually.

Are old encyclopedias worth any money? ›

Old encyclopedias are attracting collectors primarily for two reasons: scarcity and information. As is the case with all rare books and other collectibles, the more scarce an edition is, the more likely it is to have a bigger spread between supply and demand, and thus the higher the monetary value.

Who runs Britannica? ›

CHIEF EXECUTIVE OFFICER

Under the leadership of Jorge Cauz, Britannica and Merriam-Webster have been transformed from iconic print brands into two of the world's largest and most trusted digital media platforms, serving a global audience of more than 150 million monthly users.

What is the oldest money? ›

The shekel was the unit of weight and currency, first recorded c. 2150 BC, which was nominally equivalent to a specific weight of barley that was the preexisting and parallel form of currency.

What are the 4 rules of money? ›

Spend less than you make. Spend way less than you make, and save the rest. Earn more money. Make your money earn more money.

Which is the most liquid form of money? ›

Cash is the most liquid asset possible as it is already in the form of money. This includes physical cash, savings account balances, and checking account balances.

Which is better, Britannica or Wikipedia? ›

For serious errors, such as misinterpretations of important concepts, 4 were found in Wikipedia, and 4 in Britannica (1:1). The study concluded that "Wikipedia comes close to Britannica in terms of the accuracy of its science entries", although Wikipedia's articles were often "poorly structured".

How old is Britannica? ›

First issued in 1768, 'Britannica' has its origins in Edinburgh. It was published by Colin Macfarquhar (1744/5-1793), a printer, and engraver Andrew Bell (1725/6-1809).

Is the Encyclopedia Britannica worth it? ›

The Encyclopedia Britannica contains carefully edited articles on all major topics. It fits the ideal purpose of a reference work as a place to get started, or to refer back to as you read and write. The articles in Britannica are written by expert authors who are both identifiable and credible.

Is Encyclopedia Britannica for profit? ›

Britannica's products have over 7 billion page views annually and are used by more than 150 million students, the website shows. Chief Executive Officer Jorge Cauz said in an interview in September 2022 the company would have revenue that year approaching $100 million.

Is Britannica royalty free? ›

By sending UGC, you automatically grant to Britannica, a royalty-free, perpetual, irrevocable, non-exclusive license to use, reproduce, modify, publish, edit, translate, distribute, perform, and display it alone or as part of other works in any form, media, or technology whether now known or hereafter developed, and to ...

What is the business model of Britannica? ›

In effect, Britannica's online distribution was split into two avenues: one, Britannica.com, aimed at consumers and supported by advertisem*nts and subscription fees (from subscribers who wanted an ad-free experience), and the other, at the eb.com domain, for institutions such as schools and libraries.

Who contributes to Britannica? ›

Since 1768, Encyclopaedia Britannica has partnered with the world's foremost institutions and experts — from public servants, social leaders, and heads of state to professional athletes, pioneering artists, Nobel Prize winners, scholars and independent writers, and graduate students, as well as niche craftsmen, ...

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