Passing by Bill Gates; Mark Zuckerberg became $28 billion richer overnight

Passing by Bill Gates;  Mark Zuckerberg became $28 billion richer overnight

according to Bloomberg reportnet assets Mark Zuckerberg After Meta’s new financial report and impressive stock growth, the stock rose to $28.1 billion.

Zuckerberg is now worth $170.5 billion. This is the most wealth the CEO of Meta has ever had, and he’s not leaving behind Bill Gates, He has risen to the fourth place in the list of billionaires by Bloomberg.

This is an exciting return for Zuckerberg, whose fortune had fallen to less than $35 billion by the end of 2022. At the time, Meta stock fell in the face of inflation and rising interest rates and lackluster performance; But in 2023 Meta was able to reach the peak.

Meta’s recent growth will benefit Zuckerberg in other ways as well. He is expected to receive about $700 million a year from the first dividend payment to investors.

From the beginning of March (March and April), Meta announced a quarterly cash dividend of 50 cents per share for Class A and Class B common shares. Since Zuckerberg owns about 350 million shares, he will receive about $175 million (before taxes) in each quarterly payment.

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Most profitable technology companies avoid paying dividends, preferring to use their profits to develop new products. Today, Meta spends a lot of capital on AI technology.

After Meta laid off about 21,000 people and narrowed its priorities, its stock nearly tripled in 2023. A new dividend and a $50 billion share buyback could draw investors’ attention to Zuckerberg’s long-term investment in artificial intelligence and the metaverse.

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