Power Players

Mark Zuckerberg on how to be a multi-billionaire and not raise spoiled kids

Mark Zuckerberg and Priscilla Chan attend the 7th Annual Breakthrough Prize Ceremony at NASA Ames Research Center on November 4, 2018 in Mountain View, California.
Taylor Hill | Getty Images Entertainment | Getty Images

Mark Zuckerberg has a net worth of $74 billion, according to Forbes. The Facebook CEO and his wife, Priscilla Chan, could buy their two daughters almost anything.

But they don't.

Zuckerberg told CBS' Gayle King how he and Chan raise their kids to be grounded despite the family wealth.

"First of all, we don't give them everything," Zuckerberg said during the interview that aired Tuesday. "So I think that that's an important piece."

Maxima (known as Max), 4, and August, 2, also have responsibilities around the house. "They have chores," said Zuckerberg.

In May, Zuckerberg shared on Facebook a video of his daughters loading the dishwasher. The caption read, "parenting milestone unlocked."

"We also take [our daughters] to work," Chan told King. "Mark and I take both of them to work, to the office, to see sort of, like, what we do, how we contribute."

And work "comes home" too, Chan said. "We care deeply about our work. And so we don't leave it at the door."

Billionaire Warren Buffett has also discussed raising down to earth children. (Buffett's three children, Susan, Howard and Peter are now in their 60s.)

"Our kids had a very normal growing-up. I mean, they've only and I've only lived in one primary house that I've owned in my life, and I bought that in 1958," Buffett told Forbes in 2013. (Buffett, who is currently worth $86 billion, famously still lives in the Omaha, Nebraska, home he bought in 1958 for $31,000.)

"So they did not see us moving into progressively fancier houses; they did not ride in private planes. They went to school on the bus," Buffett said. "Every member of the Buffett family in Omaha has gone to a public school. They went to the same school that their mother had gone to. They went to the same high school that she'd gone to."

Buffett also co-founded The Giving Pledge, a public commitment for billionaires to give the majority of their wealth away, with billionaire Bill Gates.

Billionaire couple Bill and Melinda Gates use their hard work and such philanthropic endeavors to lead by example for their children, Jennifer, 23; Phoebe, 17; and Rory, 20.

"If life happens to bless you with talent or treasure, you have a responsibility to use those gifts as well and as wisely as you possibly can," the Gates wrote in their letter of commitment on The Giving Pledge website.

See also:

How America's capitalist system is 'broken,' according to billionaire financier Ray Dalio

Here's how much cash Warren Buffett carries in his wallet

Billionaire Marc Benioff: Capitalism has 'led to horrifying inequality' and must be fixed

Billionaire investor Warren Buffett: This is what we need to do about income inequality
Billionaire investor Warren Buffett: This is what we need to do about income inequality