Zuckerberg’s Effect On The Economy, Government and Social Media

Zuckerberg’s Effect On The Economy, Government and Social Media

August 11, 2020 0 By Stephen Callahan

Have you ever wondered what it was like to have more money than God? There are at least three people on the planet who never have to wonder. The third became official this week, and we know him as the co-creator, owner, controlling shareholder, and CEO of Facebook, Mark Zuckerberg. He also is a co-founder and board member of a solar sail spacecraft development project called Breakthrough Starshot.

What Is A Centi-billionaire?

According to Bloomberg Business, Zuckerberg joined Bill Gates of Microsoft and Jeff Bezos of Amazon in the centi-billionaire stratosphere. It’s not surprising the world’s richest three people are technology moguls. A centi-billionaire is a person who’s wealth has reached 100 billion dollars or more. The title is a relatively new moniker, and the above three are only ones known to the world. To put a centi-billionaire’s wealth in perspective, if you earned 100,000 dollars per year to reach 1 billion, you would need to save every penny you earned for 10,000 years. You can figure the rest out from here.

How Zuckerberg Got His Start

Zuckerburg, the social media entrepreneur, was born in White Plains, on May 14, 1984, to Karen, a psychiatrist, and Edward Zuckerberg, a dentist. Since middle school, he was proficient in computers and software when his father taught him Atari basic programming in the ’90s. During his stint at Harvard, he started the Facebook social networking service from his dormitory on February 4, 2004, with college cohorts Chris Hughes, Andrew McCollum, Dustin Moskovitz, and Eduardo Saverin. Now, Zuckerberg and Facebook are synonymous with social media users and ingrained in our daily lives.

Zuckerberg’s Answer To TikTok And President Trump’s Order

Instagram, also by Facebook, launched Reels, its answer to TikTok a day before President Donald Trump reported he signed an executive order banning TikTok to address its threat to national security. The executive order, due to activate later in 2020, will prevent US companies from conducting any business with its parent company ByteDance, a directive which Zuckerberg feels is setting a dangerous precedence.

TikTok, downloaded over a billion times globally, is part of the China-owned company, ByteDance. China has pulled punches on US-based social media companies by banning entities like Facebook and Google. The US government suggesting the TikTok app has gathered massive amounts of data from its users. Zuckerberg, knowing how well-received the TikTok app was among its users, took advantage of President Trump’s move and launched Reels. Economists say its strategic maneuvers like this that helped Zuckerberg become the centi-billionaire he is today.

Bernie Sanders’ Answer To Zuckerberg’s Obscene Wealth Gains

Zuckerberg has gained much so far in 2020. His net worth this year alone has risen by a meteoric 22 billion dollars, and Bernie Sanders has a plan for all that extra dough. Sanders proposed the US’s wealthiest like Zuckerberg and other billionaires of that ilk make good use of the coin they gained so far this year. Cold hard stacks of cash many believe the three behemoths derived mostly from the pandemic, through direct or indirect means.

The Vermont senator drafted and introduced the bill that would apply taxes to what he says is “obscene wealth gains” made since the pandemic started its grip on the world in January. The act is called the Make Billionaires Pay Act, and it would lay claim to tax 60 percent of the uber wealthiest’s newly gained net worth from the beginning of the pandemic to the end of 2020. The money from the tax would go towards funding much-needed healthcare for Americans affected by the coronavirus pandemic.