Mark Zuckerberg, Meta’s co-founder and CEO, set a new milestone for the richest person ever. The CEO’s current net worth is $165 billion, making him wealthier than Microsoft co-founder Bill Gates. Thanks to a 22% increase in the Meta stock price, he became $28 billion richer.
According to Forbes, just three people are wealthier than Mark Zuckerberg: Bernard Arnault, Elon Musk, and Jeff Bezos.
According to CNBC, Zuckerberg is also expecting to get approximately $174 million in cash when the company pays out its first dividend in March.
Although established, slow-growing corporations frequently pay dividends, Meta is the fourth most valued technology company on Wall Street, following Apple, Microsoft, and Nvidia.
“Paying a dividend indicates that the corporation wants to rebuild its reputation and be considered more seriously. But, ultimately, the sum paid is really a small gesture,” Dan Coatsworth, an investment analyst at AJ Bell, told Reuters.
Meta’s market capitalization surge on Friday surpassed the previous record set by Amazon, whose market value jumped by $190 billion on February 4, 2022, following a great quarterly report.
A day earlier, Meta issued a catastrophic forecast, resulting in a $200 billion value loss—the greatest in US stock market history.
Furthermore, because he owns roughly 350 million Class A and B shares, both of which are entitled for dividends, Meta’s CEO will receive nearly $174 million in cash when the company pays its first dividend in March. According to CNBC, Zuckerberg will make more than $690 million every year assuming Meta continues to pay its 50-cent quarterly dividend.
Last year, the S&P 500.SPX increased by 24%, fueled by confidence in the promise of artificial intelligence. Meta, Nvidia, Microsoft, and Broadcom just achieved record highs. With Friday’s advance, Meta’s 2024 gain is now 35%.