
Mark Zuckerberg’s Fortune Surpasses $100B - xoxoy
https://www.bloomberg.com/news/articles/2020-08-06/zuckerberg-s-fortune-surpasses-100-billion-with-facebook-surge
======
GaryNumanVevo
For anyone trying to comprehend a $100B net worth. Watch this video 100 times:
[https://www.youtube.com/watch?v=8YUWDrLazCg](https://www.youtube.com/watch?v=8YUWDrLazCg)

~~~
ksec
Sometimes I think about these things, and put it in a different perspective.

The richest man on planet earth, could only afford a few block of properties
in one of the most expensive cities in the world. [1], a tiny tiny dot on the
Map.

[1] [https://youtu.be/t5jI2oMyO0Y](https://youtu.be/t5jI2oMyO0Y)

------
mikece
No... his STOCK HOLDINGS now exceed $100B. If Facebook is deemed by the FCC to
be in violation of Section 230 those stock holdings will plummet rather
quickly. If he cashes them all out right now THEN his actualized net worth
would be $100B, but until then it's only paper wealth: a figment of a banker's
dream until they are sold. Bloomberg knows better than to publish crap like
this.

~~~
bsaul
I like this reasonning, but otoh nobody has a lot of money in cash. When you
count somebody’s fortune, you must also count assets that may produce
different valuation when sold.

~~~
mikece
It's an _unrealized_ asset. It can be included as a footnote on his personal
net worth but isn't part of it until it's sold. For a founder, the red-tape
involved in selling stock is significant and they must wait for the market to
absorb the announcement of their intention to sell. I recall when Bill Gates
sold something like $200M of his stock to pay for his lake-side mansion and
that the SEC filing went out of the way to express that Gates didn't really
want to sell anything but it was the only way he could finance his new
mansion... in other words, there's no insider knowledge about Microsoft that
prompted his selling. For Zuck to cash out he would have to announce well in
advance and then say he's going to sell X percent every first trading day of
the month (or whatever period he defines) whether the stock is going up or
down in order for it to not be taken as an insider move.

(In fact, selling covertly or converting stock to any financial instrument
covertly -- what's called "buying a collar" \-- is quite illegal and will land
you in jail if caught.)

~~~
foghornleghorn
You are quite naive. These people don't have to sell their stocks in order to
finance something like building a house. They get massive loans using their
stocks at collateral.

~~~
breakintheweb
Some of Larry Ellison's emails with his financial advisor became public and
talk about doing just this.

~~~
ksec
It is common practice for nearly all those wealthy people relying on stocks.
What I am interested in is the interest rate they get on those loans.

~~~
foghornleghorn
It's actually lower than retail bank interest rates. For example, if they get
a huge mortgage, usually it is at least 100 basis points lower. This is
because these people are considered extremely low risk.

~~~
jjeaff
I have heard it is pretty common for them to get 1 or 2% because the banks
usually want to win their business.

