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How did mark zuckerberg make money with facebook

how did mark zuckerberg make money with facebook

Facebook CEO Mark Zuckerberg turns 34 today, capping one of the more difficult years of his career at Facebook, as the company deals with fallout around privacy and fake news concerns. But because he started his company in college, he’s already amassed quite a fortune despite his young age. Other tech entrepreneurs, like M co-founder Bill Gatesalso started their careers young — Gates was the youngest billionaire ever inwhen he earned his first billion at age Zuckerberg, too, has turned fcebook of his Facebook fortune to other causes in recent years. Despite scrutiny on Facebook’s business practices, shares have risen 6 percent so far this year, more than Google. Sign up for free newsletters and get more CNBC delivered to your inbox. Get this delivered to your inbox, and more info about our products and services. All Rights Reserved.

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Even if you were watching, it’s entirely likely that you missed a crucial, brief segment around the two-hour mark, where Senator John Cornyn asked Zuckerberg about how Facebook handles ex-user data. Though somewhat unrelated to what Senator Cornyn asked, Zuckerberg’s answer was a fascinating, concise look into how Facebook turns its vast quantity of user data into profit. We don’t sell data to anyone. Indeed, Facebook makes it money through advertising. Facebook doesn’t provide data to advertisers — it does the work for them. So, if an advertiser comes to us and says, ‘All right, I am a ski shop and I want to sell skis to women,’ then we might have some sense, because people shared skiing-related content, or said they were interested in that, they shared whether they’re a woman, and then we can show the ads to the right people without that data ever changing hands and going to the advertiser. In the wake of the Cambridge Analytica scandal , which revealed that at least 87 million Facebook users had their data used without consent by a political firm to influence elections including the US Presidential election , general users, celebrities, tech executives and politicians have begun openly questioning Facebook’s handling of user data. Facebook now admits fault for allowing third-parties to access user data inappropriately, which is what led to companies like Cambridge Analytica possessing user data in the first place. The company has since shut down loopholes in its social media service that allowed third-parties to «scrape» data from its users. All that said, Facebook still directly relies on user data to make money — it’s just not in quite the way you may have thought. Account icon An icon in the shape of a person’s head and shoulders. It often indicates a user profile. Login Subscribe.

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But he was famously just a college student at Harvard when he launched » theFacebook » in Billionaire entrepreneur Richard Branson also says the key to finding a good business idea is noticing what could be improved in your own life. Billionaire Richard Branson: This simple trick is the best way to come up with an idea for a successful business. This is what motivates billionaire Richard Branson Hint: It’s not money.

This is the No. Like this story? Get Make It newsletters delivered to your inbox. All Rights Reserved. Skip Navigation. Success 5 mental traps that successful people never fall for, according to psychologists Anna Borges, Contributor. Work These are the 20 best jobs in America innew ranking says Courtney Connley.

VIDEO The world’s greatest leaders have these traits in common. Make It: Voices. And the Silicon Valley social media titan isn’t alone in his method. See also: Billionaire Richard Branson: This simple trick is the best way to come up with an idea for a successful business This is what motivates billionaire Richard Branson Hint: It’s not money This is the No.

Billionaire Richard Branson says he’s never been motivated by money — here’s why. The Definitive Guide to Business. Trending Now. Follow Us. Terms of Service Contact.

How Much Does Facebook Make From You? — Forbes

Source: Fortune. Source: Business InsiderGQ. Source: Business Insider. Source: Business Insider and Yahoo. Source: Curbed San Francisco. Source: Business InsiderForbes. Source: Facebook.

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