Dustin Moskovitz Net Worth: Facebook Exec's Wealth Up By $13 Billion Over Pandemic

Facebook co-founder Dustin Moskovitz, who helped launch the social media platform in 2004 with then-Harvard roommate Mark Zuckerberg, saw his wealth grow by more than $13 billion in the past year and a half.

From $9.3 billion in 2020, Moskovitz’s fortune soared during the COVID-19 pandemic to an estimated $23.2 billion as of Wednesday, Forbes reported. The outlet ranked Moskovitz 107th in its world's richest billionaires list for 2021, climbing nearly 40 places from his spot on the 2020 list.

Most of the 37-year-old internet entrepreneur’s fortune comes from his estimated 2% stake in Facebook, though he has not worked at the company since 2008.

Facebook’s stock initially dropped below $147 per share in mid-March last year as the stock market struggled amid the global health crisis. But by October 2020, the company’s stock had soared to more than $276 per share, resulting in Moskovitz’s net worth skyrocketing by more than 80% within just six months, USA Today reported.

He has sold several hundred million dollars worth of Facebook stock since 2012, when the company went public, according to Celebrity Net Worth.

Moskovitz, who is eight days younger than Zuckerberg, was the youngest billionaire in the world for several years until 2014, when he was beaten out by both Snapchat founders.

Moskovitz left Facebook in 2008 and founded workflow software company Asana with software programmer Justin Rosenstein, who previously worked at Google and Facebook. Their web and mobile app was designed to help teams in tracking, organizing and managing their workflows. In 2019, Asana reported revenue of $142 million and had a valuation of $1.5 billion.

The Facebook co-founder was also the biggest angel investor in Path, a mobile photo-sharing and messaging service that Shawn Fanning and former Facebook executive Dave Morin co-founded. Google offered $100 million to acquire it in 2011, but it was South Korean internet company Kakao to whom they sold Path in 2015 for an undisclosed sum. It terminated its services three years later.

Moskovitz is also active in charity work. He co-founded the philanthropic foundation Good Ventures with his wife Cari Tuna in 2011. The couple designed it so that the foundation would use up its money by the time they pass away. Good Ventures has donated about $100 million to GiveWell charities, including the Schistosomiasis Control Initiative, the Against Malaria Foundation and the Deworm the World Initiative, since being founded.

The couple is also the primary supporters of the Open Philanthropy Project, which advises donors and provides grants. The foundation distributed more than $170 million worth of grants in 2018 alone.

In addition to this, Moskovitz and his wife have also pledged to give away the majority of their fortune through philanthropy by signing the Giving Pledge founded by Bill Gates and Warren Buffet.