ALBAWABA - Mark Zuckerberg’s wealth, which saw a drop down to less than $35 billion by the end of 2022 due to bear tech market caused by inflation, has seen a massive encore reaching $170.5 billion, with a $28.1 billion boost after Meta announced better than expected quarterly earnings and new dividends to reward stockholders that surged its stock price 20 percent, making Zuckerberg the 4th richest person in the world on Bloomberg Billionaire Index.
The billionaire chief executive of operations of Meta has surpassed Bill Gates’ wealth, making his net worth the highest it has ever been at $170.5 billion, with ownership of 350 million shares in Meta according to the Securities and Exchange Commission, Zuckerberg is expected to receive $700 million on a yearly basis from the company’s dividend payouts.
According to a Bloomberg report, Meta’s surge towards a $474.99 stock price has gained the company a $197 billion in market cap towards a $1.2 trillion total value, considered to be the highest increase in stock market history, after recording a $40.1 billion in revenues in the last quarter of 2023, higher than the $38.9 billion anticipated by Visible Alpha, as well as announcing a quarterly $0.5 cash dividend per share beginning in March.
🚨🛜 Mark Zuckerberg apologizes to the families who have been harmed by META. pic.twitter.com/yCGpMUwLbJ
— Censored Men (@CensoredMen) January 31, 2024
Meta and Zuckerberg have been under the eyes recently after Meta laid off 21,000 employees last year, and Zuckerberg’s stand, along with different social media platforms’ heads, in the Senate Judiciary Committee regarding harm caused to minors by their platforms, with Zuckerberg apologizing in person to present parents, with CNN Business reporting on the potential risk the hearing might cause on Meta’s stock.
