Mark Zuckerberg will earn 700 million from Meta’s first dividend
![Mark Zuckerberg will earn 700 million from Meta’s first dividend Mark Zuckerberg will earn 700 million from Meta’s first dividend](https://cdn.businessinsider.es/sites/navi.axelspringer.es/public/media/image/2024/02/mark-zuckerberg-3269605.jpg?tf=1200x)
This Thursday, Meta announced the payment of the first dividend in its history, and its main shareholder Mark Zuckerberg is ready to take his share.
Zuckerberg, Meta’s co-founder and CEO, owns 350 million Meta shares, or a 13% stake, according to data compiled by Bloomberg.
Since Meta declared a dividend of 50 cents per share on Class A and Class B common stock, Zuckerberg will receive $175 million each quarter. Dividends will be paid starting in March.
The dividend payout amounts to $700 million a year in dividends alone for Zuckerberg, on top of Meta’s share price growth, which is up nearly 200% in 2023.
Zuckerberg is already the fifth richest person in the world, with a net worth of $142 billion, according to the Bloomberg Billionaires Index.
He’s had a good 2024 so far, with his wealth up 11.2% thanks to a solid rally in Meta shares, which rose further late Thursday in after-market trading at United States United after Meta reported its results.
Meta reported fourth-quarter results that beat expectations. For the year, Meta’s revenue increased 16% from the previous year, while profits soared 69% to $39 billion in the same period.
Meta achieved such strong performance after a “year of efficiency” in 2023, when the company laid off thousands of employees.
Meta shares rose 15.2% to $454.85 in after-hours trading after rising 1.2% on Thursday. The stock is up 11.5% this year.
Meta did not immediately respond to Business Insider’s request for comment. The representative declined to comment. Bloomberg.