Facebook Net Worth 2024

In the past, it was very difficult to communicate and have chance to interact with people who were living far from you. The only means of communication was through letters and if it was urgent, a telegram would be sent. Therefore, it was very easy to send a message to your family or friends and realize that only 60% percent if lucky enough received your message.

Disappointing as it would be, there was nothing much you would do as an individual since those were the two most effective modes of communication. Luckily, things became better when telephone was added to the list and it was followed by mobile phones.

In 2005, something better came into play that would allow people to not only communicate through messages but even exchange data like photos and many other things. This is what we all received with the innovation of Facebook and its release into the market. For those who have no idea what Facebook is all about, here is a summary of it. Facebook is a social networking or social media service with headquarters based in Menlo Park, California in the United States of America.

The brain behind Facebook is Marck Zuckerberg along with Andrew McCollum, Eduardo Saverin, Chris Hughes and Dustin Moskovitz. All of them were students at Harvard College as well as roommates. The network was initially limited to Harvard College students only but with time, they realized they could extend the service other universities like; Boston University, MIT and NYU among others.

Well, how well do you know about Facebook? If not much, we have compiled all you need to know about Facebook’s net worth in 2024, wiki and complete details. Well, if you’re all set, here is what we know about Facebook to date.

Inception

When Mark Zuckerberg was still a student at Harvard University, he built a website known as “Facemash” in 2003. The site had great comparison to Hot or Not and made use of photos that he compiled from the online face books (common web directory used in many universities) of nine Houses. The houses were placed two next to each other consecutively and users would be asked to choose the “hotter person”.

Within 4 hours, Facemash was able to attract 400 users and a total of 22,000 photo-views which was quite encouraging. The site was sent to several listservs in the campus but unfortunately, the Harvard administration decided to shut it down within a few days. Worse still Zuckerberg was expelled from the university and was charged with copyrights violations, breaching security and violating personal privacy.

After some time, these charges were dropped but Zuckerberg didn’t give up. He continued with expanding the project and before he took an art history final exam, he decided to take a social study tool the same semester he was expelled from school. All art images were uploaded to the website and each photo was accompanied by a comment section.

Zuckerberg then decided to share this site with his classmates. A “face book” which was a student directory that featured personal information and a student’s photo was necessary for the institution. However, it had taken them very long to come up with it but Zuckerberg challenged them telling them he would come up with one within one week.

Evolution

It was in 2004 when a new website “TheFacebook” was coded by Zuckerberg after Crimson’s editorial about Facemash was released. The editorial stated that the technology the world needed to create a centralized website was readily available and would bring great benefits.

This served as an inspiration for Zuckerberg. He then met with Eduardo Saverin who was a student at Harvard University and they both agreed to invest $1,000 each in building the site. On 4^th of February in 2004, “TheFacebook” was launched by Zuckerberg and it was originally located at thefacebook.com.

 Six days later, Harvard seniors, Tyler Winklevoss, Divya Narendra and Cameron Winklevoss accused Zuckerberg of misleading them intentionally to believe that he was working to help them develop their own social network known as HarvardConnection.com. Little did they know that he was stealing their ideas and using them to build a competing product.

The three seniors complained to Crimson newspaper and the newspaper decided to spend some time in investigating the matter. After they confirmed it to be true, Zuckerberg was sued and was forced to pay a settlement fee of 1.2 million of Facebook shared that were worth $300 million.

Awards

A site that started as a student’s passion to prove to his seniors that he would something worthwhile, turned out to become a great solution to the world. The launch of Facebook was a miracle that many people all over the world were eagerly waiting for. This is the reason why, it was easier for them to receive all the awards and nominations that Facebook has bagged over the years. Some of these awards include; People’s Voice Award and Best Overall Startup or Product Award among others.

Net Worth & Earnings of Facebook in 2024

Facebook has managed to earn great wealth over the years. As at now, the site is said to register a total of 2.8 billion active users monthly and above. As of 2024, This has accumulated the total net worth of Facebook to $550 billion making Zuckerberg one of the richest men in the world.

Success only comes to those who don’t give up. Zuckerberg had all the reasons of giving up after he was expelled from college but he never did. He knew what his dream was and he was ready to do anything possible to bring all his dreams into reality. After a long fight, Facebook was born.