America's latest frugal billionaire: Zuckerberg is revealed to have made $2.3bn in a YEAR... as he treats wife to no-frills Hawaii break
- Zuckerberg has been revealed to have made $2.3 billion from selling stock options just before last May's IPO
- The windfall also left the Facebook CEO with a whopping $1.1 billion tax bill
- Known for his prudent spending habits, Zuckerberg and is wife are currently enjoying a no-frills holiday in Kauai
Weary: The couple were photographed trudging wearily up the beach after a hard afternoon of sun, sea and surf, both grimacing under the weight of their massive boards
Zuckerberg isn't the first frugal billionaire, Warren Buffet is another who would prefer to keep his wealth in the bank rather than spend it on extravagant purchases. He famously still lives in the same modest home he bought in 1958 for $31,500. Facebook's CEO has another reason to keep his vacation cheap and cheerful. According to regulatory documents filed Friday, he has also been saddled with a massive $1.1 billion tax bill. Money he raised by selling 30.2 million Facebook shares for $38 apiece in the IPO. Facebook's stock hasn't closed above $38 since the IPO was completed last May. The shares gained 71 cents Friday to close at $26.85.
The 29 percent decline from Facebook's IPO price has cost Zuckerberg nearly $7 billion on paper, based on the 609.5 million shares of company stock that he owned as of March 31, according to the regulatory filing. His current stake is still worth $16.4 billion. Zuckerberg, who started Facebook in his Harvard University dorm room in 2004, has indicated he has no immediate plans to sell more stock. The proxy statement filed to announce Facebook's June 11 shareholder meeting is the first time that the magnitude of Zuckerberg's stock option gain had been quantified.
Sun safe: But while Priscilla embraced the rays in a bikini, Zuckerberg, famed for his unambitious wardrobe, opted to keep his black t-shirt firmly on
Low key: Zuckerberg has been enjoying a low key holiday in Kauai with his Harvard-educated doctor wife on their latest trip to Hawaii, where they are rumoured to be on a reconnaissance trip for real estate on the island
The proxy also revealed that Zuckerberg's pay package last year rose 16 percent because of increased personal usage of jets chartered by the company as part of his security program.
Zuckerberg's compensation last year totaled nearly $2 million, up from $1.7 million last year. Of those amounts, $1.2 million covered the costs of Zuckerberg's personal air travel last year, up from $692,679 in 2011. If not for the spike in travel costs, Zuckerberg's pay would have declined by 17 percent. His salary and bonus totaled $769,306 last year versus $928,833 in 2011.
But despite being worth $13.3billion, Zuckerberg enjoys life's simple pleasures. Earlier this week he and his wife were spotted chatting with friends at picnic tables while snacking on Kauai's famous Bubba burgers and smoothies.
Newtworking: Mark Zuckerberg and wife Priscilla Chan chat with friends as they take a stroll on Kauai
Relaxed: The couple were seen enjoying food from Bubba's Burgers at a picnic table with friends
The billionaire enjoyed snacking on Kauai's famous Bubba burgers and smoothies
'We try to stick pretty close to what our goals are and what we believe and what we enjoy doing in life - just simple things,' Chan has previously told The New Yorker.
As the couple headed to their beach front house, they were seen walking past Shave Ice Paradise - a favorite of the Obama family when the First Family vacations in Hawaii.
It is just the latest trip to Hawaii for Zuckerberg and Chan, who switched web surfing for wave surfing in Maui last December. They were seen chatting with beach goers and enjoying lessons in the water. And while the couple do not appear to be splashing out this trip, it was reported that Zuckerberg did go on a spending spree in the area in January, when he bought several luxury condos in Honolulu.
Stroll: Zuckerberg and his wife laughed as they passed Shave Ice Paradise - an Obama favorite
Taking it easy: The couple, who enjoyed smoothies with friends, also visited Hawaii last December
Vacation: The high-flying couple is staying at a beach house Kauai, Hawaii, pictured
He was reportedly interested in buying several units in a 23-story ultra-luxury condominium under development. Each unit costs $1.6 million - with penthouse suites reaching $9 million.
The couple met at a college party in 2003 as they stood in line for the bathroom at Zuckerberg's Jewish fraternity at Harvard University, Alpha Epsilon Pi.
'He was this nerdy guy who was just a little bit out there,' Chan told the New Yorker. They married in May last year in Zuckerberg's backyard in Palo Alto, California - after telling their unwitting guests the celebration was solely to mark Chan's graduation from medical school. As well as family and friends, they were joined by their dog Beast and serenaded by Green Day's Billie Joe Armstrong. Zuckerberg was no doubt ready for a holiday following his first foray into politics this month.
Low key: Zuckerberg was seen sporting his sock sandals - which were parodied in the film about Facebook, The Social Network, by Jesse Eisenberg (right) who plays the Facebook founder
Wedding day: The couple were married last May at their Palo Alto, California home
With other Silicon Valley leaders, he launched a political group aimed at revamping immigration policy, boosting education and encouraging investment in scientific research.
Zuckerberg announced the formation of Fwd.us (pronounced 'forward us') in an op-ed article in The Washington Post two weeks ago. In it, he said the U.S. needs a new approach to these issues if it is to get ahead economically. This, he wrote, includes offering talented, skilled immigrants a path to citizenship. 'We have a strange immigration policy for a nation of immigrants, Zuckerberg wrote. 'And it's a policy unfit for today's world.'
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