Facebook co-founder Mark Zuckerberg’s net worth experienced a remarkable surge of $28.1 billion following Meta’s quarterly performance, which outperformed Wall Street’s projections by a significant margin. This surge propelled Zuckerberg’s net worth to $170.5 billion, marking his highest net worth to date and positioning him above Bill Gates to claim the fourth position on the prestigious Bloomberg Billionaires Index. This resurgence is particularly noteworthy considering Zuckerberg’s wealth had dipped below $35 billion in late 2022 amidst a downturn in tech stocks due to inflation and interest rate hikes, only to rebound strongly in 2023.
The optimistic results are set to benefit Zuckerberg in multiple ways, including through Meta’s announcement of its inaugural dividend for investors. Meta disclosed a quarterly cash dividend of 50 cents per share for Class A and B common stock commencing in March. With Zuckerberg’s ownership of approximately 350 million shares, he stands to receive around $175 million in each quarterly payment before taxes, as per Bloomberg’s data.
The decision by Meta to initiate a dividend program signifies the company’s confidence in its growth prospects. While many rapidly expanding tech firms typically reinvest earnings into innovation or acquisitions rather than distributing dividends, Meta’s move underscores its evolving strategic outlook. Despite substantial investments in artificial intelligence initiatives, Meta’s acquisition opportunities are facing regulatory hurdles.
Following Meta’s restructuring, which involved the termination of approximately 21,000 employees and a refined focus on key objectives, the company’s stock nearly tripled in value throughout 2023.
In terms of compensation, Zuckerberg received a total of $27.1 million in 2022, inclusive of private security expenses and a nominal base salary of $1, as per filings. However, Meta is yet to disclose executive compensation details for the preceding year.
