How Facebook cofounder Chris Hughes made (and spent) his fortune:
Hughes, who shared a dorm room with Mark Zuckerberg at Harvard in the nascent years of the company, is reportedly working with New York University's Scott Hemphill and Columbia University’s Tim Wu on his campaign. , Hughes has walked regulators through a 39-page slide presentation that makes a point-by-point legal case for breaking up the social network based on decades of antitrust law precedent.
This is just the latest from Hughes in a tidal wave of criticism he’s mounted against the company that made him rich. In May, he wrote a widely-shared op-ed in the.” In the story, Hughes writes, “the financial rewards I reaped from working at Facebook radically changed the trajectory of my life, and even after I cashed out, I watched in awe as the company grew. It took the 2016 election fallout and Cambridge Analytica to awaken me to the dangers of Facebook’s monopoly.
It’s an unusual stance for a company founder to advocate for breaking up the business he helped create. Hughes worked with Facebook for three years before leaving in 2007 to work for then-presidential candidate Barack Obama.estimated Hughes’ net worth at $700 million in 2012, the same year as Facebook’s initial public offering, which included about $100 million from sales of Facebook shares prior to the IPO. Hughes went on to sell most of his Facebook shares by the end of 2012.
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