Yahoo Finance Mark Zuckerberg: 5 Things He Won’t Waste Money On
Mark Zuckerberg is known for being one of the wealthiest CEOs in the world, but he doesn’t always flaunt his money. In many ways, the Meta founder chooses a lifestyle that is not too far off from the average person. He ditches the traditional decadence of the ultra-wealthy and opts for a more simple way of life.
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Zuckerberg’s frugal habits, however, do not extend to his charitable giving. In December 2015, the social media chief executive pledged to give away 99% of the Facebook shares owned by him and his wife, Priscilla Chan. At the time, the holdings were worth over $45 billion.
While the philanthropist does spend jaw-dropping amounts of money on some items, he continues to make headlines for living a less-than-opulent lifestyle. Here are five things he won’t waste money on.
Expensive Clothes
Instead of a carefully tailored Italian suit, Zuckerberg opts for a more casual look. He is frequently photographed wearing T-shirts and jeans. He was often criticized for his work attire, which some felt was not reflective of his status as a CEO. However, he remained steadfast for years, wearing the same gray T-shirt, hoodie and jeans to the Facebook offices each day.
Zuckerberg isn’t the only successful businessman to wear an outfit on repeat. As discussed in SmartCompany, the co-founder’s low-key apparel was a choice to help him reduce the number of decisions he had to make each day. He is well-known for stating that he tries to eliminate the number of nonessential decisions he has to make each day, which apparently includes what to wear in the morning.
Find Out: 5 Frugal Habits of Mark Cuban
Pricey Cars
In addition to his non-flashy wardrobe, Zuckerberg is also known for driving less than luxurious vehicles. While he may own a fleet of them, many are affordable. According to some reports, including Way.com, he at one time owned a Honda Fit and a Volkswagen Golf MK6.
The Harvard dropout is not the only one of the world’s wealthiest to drive cars that can be owned by the middle class. As reported by CNBC, Michael Bloomberg drives a Chevrolet Suburban and Jeff Bezos has been seen in a Honda Accord. At GOBankingRates, we asked experts why the rich drive cheap cars and found that many of them value practicality and functionality over luxury.
An Over-the-Top Wedding
Mark Zuckerberg tied the knot with Priscilla Chan in 2012, nearly a decade after meeting her at a college party. The two have made headlines for their philanthropy and their not-so-decadent wedding. Just one day after Facebook went public, the two exchanged vows in their Palo Alto backyard. The wedding was hush-hush, with guests believing they were attending Chan’s medical school graduation party. The understated affair was catered by local restaurants and likely cost hundreds of thousands of dollars less than the typical billionaire’s wedding.
A Huge Salary
While the Meta founder is a billionaire, he doesn’t spend money on a salary for himself. In 2023, he made a salary of only $1, carrying on the tradition that he set a decade earlier. The self-made businessman, however, isn’t hurting for cash. Most of his earnings are classified as “other compensation.” The majority of the compensation is spent on security for Zuckerberg, according to the report.
Luxury Vacations
While the rich and famous are known for taking lavish vacations to otherworldly destinations, Zuckerberg and his family tend to fly under the radar. They don’t seem to feel the need to flaunt their wealth, choosing instead to keep their vacations more down to earth, like the one they took to Kauai, where they ate the island’s famed burgers and visited local shops.
While his trips may seem relaxed and cost-effective, Zuckerberg doesn’t always pinch pennies. He is said to own a multimillion-dollar compound on the island of Kauai. The property serves as a getaway for him and his family. It was allegedly under construction in December 2023 with plans for a “huge underground bunker.”
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This article originally appeared on GOBankingRates.com: Mark Zuckerberg: 5 Things He Won’t Waste Money On
