Mark Zuckerberg will earn 700 million from Meta’s first dividend

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.

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