Facebook CEO Mark Zuckerberg is seen after fencing in the “Metaverse” with an Olympic gold medal fencer throughout a live-streamed virtual and increased truth conference to reveal the rebrand of Facebook as Meta, in this screen grab drawn from a video launchedOct 28, 2021.
Facebook|through Reuters
Meta CEO and co-founder Mark Zuckerberg has 28 billion factors to commemorate the business’s gangbuster quarter.
As of Friday’s close, Zuckerberg is the wealthiest he has actually ever been, thanks to a 22% rise in Meta stock that has actually left him with a $28 billion paper windfall. The CEO now has a net worth of $165 billion, making him wealthier than Microsoft co-founder Bill Gates.
He’ll likewise get approximately $174 million in money when the business pays its first-ever dividend inMarch Zuckerberg owns around 350 million Class A and B shares, both of which are qualified for the dividend. Zuckerberg will make more than $690 million on a yearly basis if Meta preserves its 50 cent quarterly dividend.
It is an amazing modification of fortune for a guy whose net worth is carefully connected to the efficiency of Meta stock. In 2021, Zuckerberg’s net worth peaked at around $142 billion, according to the Bloomberg Billionaires Index, as the Nasdaq reached a fresh high.
But a market-wide correction hit Meta more difficult than many. Investors and experts roughly slammed the business for raking billions of dollars into Reality Labs, its virtual truth department. Zuckerberg reacted by performing deep cuts throughout the board, calling it Meta’s “year of efficiency”
Many other tech CEOs did the same throughout 2022, 2023 and into2024 Still, at its floor in October 2022 and November 2022, Meta shares might be gotten for around $90 each and Zuckerberg deserved $36 billion– a quarter of his all-time high.
Meta reported fourth-quarter profits that beat on the leading and bottom lines. It published development in every crucial metric tracked by the street, and more than tripled its earnings compared to the year-ago quarter. The business is now worth $1.2 trillion.
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