The Internet today is abuzz with rumors that Facebook CEO and founder Mark Zuckerberg may just be considering running for president. Given how wealthy he is, he could potentially find an entire presidential run by himself but would he?
How much would Zuckerberg have to spend on our run for office? How would it affect his total net worth?
The speculation regarding Mark Zuckerberg’s run for president or some other office exploded today, when he embarked on one of those baby kissing tours that politicians seem to always find necessary.
Apparently, a family in Ohio was told that they were going to be having a mystery guest, who was going to spend some time to see what their life was like, as well as, of course, take some photos of him looking like an average guy.
The trip was part about larger plan trip where Zuckerberg intended to go to every state, and meet people of all walks of life. Sounds pretty familiar doesn’t it?
But there’s more: apparently in a lawsuit, it was revealed that Zuckerberg had discussed planning to run for office with other big Silicon Valley aristocrats.
And he even is now saying that he’s no longer an atheist (what a coincidental time to decide that, given that atheists rarely win office).
So how much will Mark Zuckerberg after spend to become a politician? How would it affect his finances? If he does run for President, how much will running For President cost Mark Zuckerberg?
Mark Zuckerberg is currently worth $62.8 billion. To put that in perspective, he could single-handedly fund many of the currently proposed budget items in Congress for an entire year.
But these days, running for office is expensive. If Zuckerberg intends to run without asking other donors for money, he’d expect to spend up to $2 billion for the 2020 presidential cycle.
If he wants to run for a smaller office, like senator or governor, it would cost him peanuts. The most expensive Senate seats require less than $100 million. And how seats can be won for less than $10 million.
But becoming president can adversely (or not so adversely) affect his net worth. While it appears that Donald Trump may be profiting from his activities as president, generally presidents get rid of most of their holdings. For Zuckerberg this could mean liquidating tens of billions of dollars Facebook stock, and divestment from other businesses.
Zuckerberg would likely put his money into a blind trust (Trump put his money into a non-blind trust), in which case his fortunes could be at the mercy of the market and other outside forces.
Photo: Flickr Jakob Steinschaden