Mark Zuckerberg, CEO of Meta, who is currently valued at over $140 billion based on Bloomberg’s billionaire index, has significantly benefited from the company’s share price explosion in the last 24 hours following the announcement of its inaugural cash dividend program.
The announcement that a $0.50 quarterly dividend will be distributed to shareholders of record as of February 22 on March 26 caused shares of Meta (META) to soar by more than 21%.
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Barron reports, “Zuckerberg, Meta’s founder, and CEO, owns 350 million shares, a 13% economic stake with 61% voting control since nearly all the stock he owns is supervoting B shares, according to Meta’s 2023 proxy statement. With the new dividend, Zuckerberg will receive about $700 million annually.”
Due to Meta’s stock price advances, Zuckerberg now ranks fifth in the world’s wealthiest people’s list with a $142 billion fortune.
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