Meta CEO and co-founder Mark Zuckerberg is celebrating a record-breaking quarter with a staggering $28 billion paper gain, driven by a 22% surge in Meta stock. This surge propels Zuckerberg’s net worth to $165 billion, surpassing Microsoft co-founder Bill Gates.
Additionally, he is set to receive approximately $174 million in cash from Meta’s first-ever dividend in March. With around 350 million eligible Class A and B shares, Zuckerberg stands to earn over $690 million annually if Meta maintains its 50 cent quarterly dividend.
This financial success marks a significant turnaround from a challenging period, where a market-wide correction impacted Meta’s stock value. Despite facing criticism for heavy investments in Reality Labs, the company’s virtual reality division, Zuckerberg implemented substantial cost-cutting measures, declaring it Meta’s “year of efficiency.”
The positive momentum continued into 2024, with Meta reporting impressive fourth-quarter earnings, beating expectations across various metrics and tripling net income compared to the previous year. The company’s valuation now stands at a remarkable $1.2 trillion.