Mark Zuckerberg's Way to Increase Wealth, Avoid Wasting Money on These 5 Things, Worth Imitating
- Mark Zuckerberg's way of increasing wealth, avoid wasting money on these 5 things. Mark Zuckerberg is known as one of the richest CEOs in the world, but he doesn't always show off his money. He chooses a simpler lifestyle than the average person.
He discarded the traditional decadence of the ultra-rich and chose a simple way of life.
However, Mark Zuckerberg's frugal habits do not extend to charitable giving.
Even though he is known to be rich, Mark Zuckerberg doesn't spend a lot of money on these 5 things.
1. Awesome Wedding
Mark Zuckerberg married Priscilla Chan in 2012, nearly a decade after meeting her at a college party. The two made headlines for their philanthropy and not-so-decadent marriage. Just one day after Facebook went public, the two exchanged vows in the backyard of their Palo Alto home.
The wedding took place secretly, with guests believing they were attending Chan's medical school graduation party.
These low-key weddings are hosted by local restaurants and likely cost hundreds of thousands of dollars less than the average billionaire's wedding.
Money illustration (FreeImages)
2. Luxury Vacation
While the rich and famous are known for taking luxury vacations to extraordinary destinations, Zuckerberg and his family tend to fly under the radar. They don't seem to feel the need to flaunt their wealth, and choose to keep their vacations more down to earth, like when they went to Kauai, where they ate the island's famous burgers and visited local shops. Even though his trips seem relaxing and cost-effective, Zuckerberg doesn't always spend a dime. He is said to own a multi-million dollar compound on the island of Kauai. The property serves as a vacation spot for him and his family. The building is allegedly under construction in December 2023 with plans to build a “large underground bunker”.
3. Expensive clothes
Instead of a carefully tailored Italian suit, Zuckerberg opted for a more casual look. He is often photographed wearing a T-shirt and jeans. He is often criticized for his work attire, which some say does not reflect his status as CEO. However, he remained steadfast over the years, wearing the same gray T-shirt, hoodie and jeans to Facebook's offices every day. Zuckerberg is not the only successful businessman who repeatedly wears clothes.
As discussed on SmartCompany, the simple clothes one of its founders wears is a choice to help him reduce the number of decisions he has to make every day.
He is famous for stating that he tries to eliminate a number of unimportant decisions he has to make every day, including what he will wear in the morning.
Mark Zuckerberg and his wife, Priscilla Chan (Politico)
4. Expensive Cars
Apart from his nondescript clothes, Zuckerberg is also known for not driving luxury vehicles. While he may own a fleet of these ships, many of them are affordable. According to several reports, including Way.com, he once owned a Honda Fit and a Volkswagen Golf MK6.
This man who studied at Harvard is not the only richest person in the world who drives a car that can be owned by the middle class. As reported by CNBC, Michael Bloomberg was driving a Chevrolet Suburban and Jeff Bezos was seen driving a Honda Accord. At GOBankingRates, we asked experts why rich people drive cheap cars and found that many of them value practicality and functionality over luxury.
Rupiah money illustration (Freepik)
5. Big salary
Even though Meta's founder is a billionaire, he doesn't spend any money on his own salary.
In 2023, he earned a salary of just US$ 1, continuing a tradition he established a decade earlier.
However, this independent businessman is not short of money. Most of his income is classified as “other compensation.” The majority of the compensation was spent on Zuckerberg's security, according to the report.