A 39-year-old man, who was born in White Plains, New York, and his parents were Karen, a psychiatrist – mother, and Edward, a dentist – father, has a lot of luck. After studying at Harvard University, he married Priscilla Chan, and together they had three children. Mark Zuckerberg founded Facebook in 2004, and now he is receiving no less than 700 million dollars in dividends from the company Meta.
Facebook’s parent company Meta will pay dividends to shareholders as it reports revenue of $40 billion for the final quarter of 2023, The Guardian reports.
Mark Zuckerberg, the chief executive of Meta, the parent company of Facebook, Instagram and WhatsApp, is expected to receive $700m (£549m) a year in dividends.
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On Thursday, Meta announced it would pay its first quarterly dividend to investors since Facebook went public in 2012 after beating Wall Street expectations with $40 billion in revenue for the final quarter of last year.
The company reported a tripling of quarterly profits to $14 billion as ad sales rebounded, despite Meta cutting 22 percent of staff by cutting total employees to about 19,000 and launching a share buyback of 50 billion dollars.
Zuckerberg also announced that the business, which turns 20 this month, will pay its first dividend as a public company of 50 cents per share. Meta said the $1.25 billion to investors would be the first of its regular payouts.
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Mark Zuckerberg owns about 350 million shares, which means that if Meta posts roughly the same level of dividend payments each quarter, it will take home about $700 million over the course of the first year.
Mark Zuckerberg, 39, who has three children, took home $27 million in total compensation in 2022, the most recent year for which full compensation figures are available.
Meta was criticized Wednesday at a US Senate Judiciary Committee hearing, which was convened to question Zuckerberg and other tech executives about the impact of their platforms on young users. The chief executive has offered an apology to parents whose children have died as a result of online exploitation.
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Throughout the hearing, members of Congress advanced legislation that could strip Meta and other platforms of legal immunity for content posted on its platforms.
This comes months after US company Meta was hit with a massive lawsuit by the attorneys general of 41 states over its impact on young users.
Let’s mention the fact that Mark Zuckerberg from the United States has an estimated fortune of 139.3 billion dollars, according to the list compiled by Forbes magazine in 2024. On the first places in the ranking of the richest people in the world is Bernard Arnault with 213.4 billion dollars, followed by Elon Musk, Jeff Bezos and Larry Ellison.