It is a special month for Facebook and Mark Zuckerberg as the company has recently celebrated its 15th anniversary. But interestingly, Zuckerberg’s Dad had an even better option for his son as he offered him to choose one thing between owning a Mcdonald’s franchise or joining Harvard, whose dorm room later became the birthplace of the world’s biggest social media company in the history of the tech world.
During an interview at CNN Business with Laurie Segall, the sister of Facebook’s co-founder, Randi Zuckerberg recalled memories from the time when Mark was about to join college. His Dad had an entirely opposite but profitable option for Zuckerberg as he suggested his son to buy invest in a McDonald’s franchise instead of Harvard.
“My dad, funny enough, right before each of us went to college offered us the options of going to college or like investing in a franchise and running it,”
Just like every other student, Zuckerberg was passionate about going to Harvard and therefore he opted for the admission but then later dropped out of it as well. When Mark told about his plans of working on Facebook to his father, he supported him in his endeavors.
“I think [my parents] were like ‘Okay, you probably should have taken the McDonald’s franchise money if you wanted a business. But, okay, this might be a second good choice,'” Randi told CNN.
Back in 2002, when Mark enrolled himself in college, no one was really expecting anything in the family. There was no concept or sign of Facebook and Zuckerberg never even thought that Harvard would turn out to be a gold mine for him.
If Zuckerberg had chosen to Mcdonald’s over education, he would have still been a millionaire by now, or at least relatively rich. As per reports from CNBC and Franchise Business Review of 2016, the average profit of food and beverage franchises stand at $90,388 a year and if one owns a franchise like Mcdonald’s, making six figures is no problem at all.
Luckily for Zuckerberg, his current net worth stands at $66.6 billion, according to Bloomberg’s Billionaires Index, which is nearly impossible for a Mcdonald’s owner as it roughly equals to making over $4.7 billion a year since he dropped out of college in 2004 in comparison to the franchise stats.
While it is unclear that how much Zuckerberg’s father needed to invest in a Mcdonald’s franchise back in the 2000s, the total amount of money that a person needs to start with Mcdonald’s ranges from $1,013,000 to $2,185,000, as of today. These figures still don’t guarantee profitability as a lot of other factors do come into play as well.
But that being said, we are glad that Zuckerberg chose to educate himself first and then changed the world with Facebook. His story will always be a strong lesson for all the youngster out there.
Mark Zuckerberg also received an Honorary Doctor of Laws Degree from Harvard University in 2017