According to ABC, the Federal Reserve’s 2018 survey of Americans’ financial wellbeing found that roughly 40 percent of U.S. adults “wouldn’t be able to cover a $400 emergency with cash, savings or a credit-card charge that they could quickly pay off.” However, Bloomberg frowned on politicians like Bernie Sanders and Elizabeth Warren for using that statistic to claim that 4 in 10 Americans can’t “afford a $400 emergency expense.” After all, 27 percent of adults could “make it work” by borrowing emergency money from friends and relatives or charging it to their credit cards that they can’t quickly pay off. Some respondents said they could “sell something” to scrounge up the money. So if you can spend money you don’t actually have or sell your blood or something, then you can clearly “afford” the emergency. Good job, Bloomberg. Way to miss the point.
You know who could easily cover a bunch of $400 emergencies? Mark Zuckerberg. He might have a last name that screams “sandwich jelly tycoon,” but Zuckerberg should never find himself in a financial jam, thanks to his gargantuan cash cow, Facebook. In 2018, the social media site raked in a record $6.88 billion in profits, per the Guardian. This was despite a spate of horrifying scandals, including the use of Facebook’s WhatsApp to incite lynchings in India and the use of Facebook to promote a potential genocide in Myanmar. You might wonder how much Zuckerberg makes from all that profitable awfulness.
With earnings like that, who needs Facebook friends?
Mark Zuckerberg is definitely not a Facebook friend in need. CNBC reports that on the CEO’s 34th birthday he was earning an average of $6 million a day for each day of his life. Business Insider calculated his hourly earnings based on the money he made between June 2017 and June 2018 and the number of hours in a year (8,760). By that metric, the social media mogul earned $1,712,328 per hour. That’s enough to cover a $400 emergency 4280.82 times.
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