Josh Edelson/AFP/Getty Images
Mark Zuckerberg, founder and CEO of Meta, speaks at the MetaConnect event at Meta Headquarters in Menlo Park, California, on September 27, 2023.
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CNN
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Mark Zuckerberg’s net worth increased by more than $29 billion between his morning coffee and his lunch break.
Meta’s founder and CEO is already worth more than $140 billion, according to the Bloomberg Billionaires Index, but he has liquidated. This comes as Meta’s stock price soared over the past day after the company announced its first-ever cash dividend program.
Meta stock (meta) It jumped more than 21% on this news. A quarterly dividend of $0.50 per share is scheduled to be paid on March 26 to shareholders listed on the shareholder registry as of February 22.
Zuckerberg owns about 350 million shares of the company, according to the U.S. Securities and Exchange Commission.
Unless Mr. Zuckerberg sells or buys more stock, assuming the quarterly dividend remains at the same level, Mr. Zuckerberg will earn about $700 million annually from the company’s dividends.
While dividends please shareholders because they reward investors for simply owning the stock, they are also widely used in that they artificially inflate stock prices without spending on employees or improving the underlying business. has been criticized.
This increase cushions the subsequent potential damage to Meta stock. Mr. Zuckerberg testified along with the heads of other social media companies. Wednesday before the Senate Judiciary Committee about the risks their products pose to young people.
Mr. Zuckerberg was pressed about: Internal meta documents suggest the company estimates the lifetime value of a teenage user at $270, and also include meta transparency about how user data is monetized.
Zuckerberg apologized to parents in attendance who said their children had been victims of social media.
“I’m sorry for everything you’ve been through,” he said. “No one should have to go through what your family has had to go through. This is why we invest so much money to ensure that no one has to go through what your family has had to go through. We will continue to work on this across the industry.”
