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Only 5 people on the entire earth are richer than Zuck.

Source: Mark Zuckerberg is now the sixth richest person in the world

I suppose when you have almost $50 billion, what you are worth really does not matter anymore. With the surge in Facebook profits and consequently the surge in CEO Mark Zuckerbergs personal wealth to $47 billion, I got to thinking ‘when do you stop caring about money?’.

Zuckerberg has pledged to giveaway 99% of his wealth – if he were to do that today, he’d still have $470 Million to live on. I know! How would anyone survive on that?
On foot of Mark Cubans advice to potential winners of the US Powerball lottery (see below), nobody needs that much money. In fact, there are small countries that probably don’t need that much money. The fact that Mark Zuckerberg has amassed that much wealth is really a testament to his idea, Facebook and I think his decision to give away 99% over his lifetime is a testament to the man himself.

Mark Cubans advice to potential lottery winners.
(1) Hire a tax attorney first.

(2) Don’t take the lump sum. You don’t want to blow it all in one spot.

(3) If you weren’t happy yesterday you won’t be happy tomorrow. It’s money. It’s not happiness.

(4) If you were happy yesterday, you are going to be a lot happier tomorrow. It’s money. Life gets easier when you don’t have to worry about the bills.

(5) Tell all your friends and relatives no. They will ask. Tell them no. If you are close to them, you already know who needs help and what they need. Feel free to help SOME, but talk to your accountant before you do anything and remember this, no one needs $1 million dollars for anything. No one needs $100,000 dollars for anything. Anyone who asks is not your friend!

(6) You don’t become a smart investor when you win the lottery. Don’t make investments. You can put it in the bank and live comfortably. Forever. You will sleep a lot better knowing you won’t lose money.

Thanks for reading!

Cormac

 

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