Mark Zuckerberg net fortune earned $28billion in one day، Meta enjoys record stock rally
Mark Zuckerberg co-founder and CEO of Meta Platforms Inc.، formerly Facebook، net fortune surged on Thursday by $28.1 billion after the company’s quarterly results far exceeded Wall Street’s expectations، sending its shares up about 20% and he is now worth $170.5 billion، the richest he’s ever been، and surpassed Bill Gates to move into the fourth spot on the Bloomberg Billionaires Index.
Mark Zuckerberg cofounder and CEO of Meta Platforms Inc.، formerly Facebook، achieved a big comeback for his wealth، thanks to Meta’s $197 Billion surge that is the biggest in stock market history and after it fell below $35 billion in late 2022 as tech stocks collapsed in the face of inflation and interest rate hikes، only to come soaring back in 2023.
Mark Zuckerberg was two years ago، in a completely different situation
Mark Zuckerberg co-founder and CEO of Meta Platforms Inc.، formerly Facebook، was two years ago، in a completely different situation as the company recorded the largest single day crash in stock market history، wiping out about $250 billion in value، and Zuck was burning money trying to make the metaverse a thing، which worried shareholders.
The upbeat results will benefit Mark Zuckerberg co-founder and CEO of Meta Platforms Inc.، formerly Facebook، in other ways، too as he stands to receive a payout of about $700 million a year from the social media giant’s first ever dividend for investors.
Mark Zuckerberg owns 350 million shares
Mark Zuckerberg co-founder and CEO of Meta Platforms Inc.، formerly Facebook، announced a quarterly cash dividend of 50 cents a share for Class A and B common stock beginning in March، and with Zuckerberg holding about 350 million shares، he would take home about $175 million in each quarterly payment before taxes، according to data compiled by Bloomberg.
Mark Zuckerberg co-founder and CEO of Meta Platforms Inc.، formerly Facebook، will benefit from the company’s move to pay a dividend as it sends a signal about the company’s view of its growth potential، since faster growing tech companies eschew dividends in favor of using earnings to develop new products or make expensive acquisitions.
Meta Plans $50 Billion buyback
Mark Zuckerberg co-founder and CEO of Meta Platforms Inc.، formerly Facebook، stated that Meta Plans $50 Billion buyback in bid to win over investors and fired about 21 thousand people and narrowed its priorities، the stock almost tripled in 2023، while Meta is spending big on artificial intelligence initiatives، its acquisition prospects are dwindling in the face of regulatory opposition.
Mark Zuckerberg co-founder and CEO of Meta Platforms Inc.، formerly Facebook، increased its net worth as the new dividend and an additional $50 billion in share buybacks may win more patience from investors with Zuckerberg’s long-term bets on artificial intelligence and the metaverse.
Mark Zuckerberg took home $27.1 million in total compensation in 2022
Mark Zuckerberg co-founder and CEO of Meta Platforms Inc.، formerly Facebook، took home $27.1 million in total compensation in 2022، including private security costs and a base salary of $1، according to filings as Meta hasn’t yet reported executive compensation for last year.
Meta’s stock rose 20% yesterday to a record $474.99، adding $197 billion to the Facebook/Instagram/WhatsApp parent company’s valuation، which is now $1.22 trillion to be the most market value any US company has ever gained in a single day.
But the company suffered the drop in its market value over a single day of trading on Feb. 3، 2022، when Meta Platforms Inc. (META) operating as Facebook and the price of the stock plummeted، dropping 26% during the day، lost $232 billion in market value and surpassed the previous largest single day loss held by Apple Inc. only 17 months earlier.
