Mark Zuckerberg to Receive $700 Million Annually as Meta Shares Jump 15%

02 Feb 2024, 14:47 by Lucas Nolan · Breitbart

Meta CEO Mark Zuckerberg stands to gain $700 million annually from the company’s new quarterly dividend, announced alongside strong Q4 earnings results that sent Meta’s stock surging 15 percent.

Bloomberg reports Meta Platforms CEO Mark Zuckerberg will receive an annual payout of approximately $700 million from the company’s new quarterly dividend, according to recent filings. This comes as Meta’s stock jumped 15 percent following strong fourth-quarter earnings results and the announcement of a 50 cent per share dividend starting in March.

The dividend, Meta’s first ever, will result in Zuckerberg receiving around $175 million every quarter based on his roughly 350 million share stake, reports Bloomberg.

This adds up to about $700 million per year that the tech mogul will gain from the payouts.

Meta exceeded revenue expectations in Q4 2023, bringing in $40.1 billion compared to forecasts of $39.18 billion. Earnings per share were $5.33 versus an expected $4.96, notes CNBC. The company also announced a $50 billion share repurchase program alongside the dividend.

Meta’s online advertising business continues to rebound after a difficult 2022, with Q4 revenue increasing 25 percent year-over-year. Expenses also fell eight percent annually to $23.73 billion as Meta’s cost-cutting measures improve profitability.

CEO of Meta, Mark Zuckerberg acknowledges grieving family members as they hold up photos during a Senate Judiciary Committee hearing with representatives of social media companies at the Dirksen Senate Office Building on Wednesday January 31, 2024 in Washington, DC. (Matt McClain/The Washington Post via Getty Images)

The strong quarterly performance and capital return announcements have boosted investor confidence, driving Meta’s shares up 14 percent in late trading. This adds to the stock’s remarkable 2023 recovery, having nearly tripled after plummeting 61 percent the prior year.

The new dividend suggests Meta sees limits to its growth prospects amid regulatory constraints on acquisitions, reports Bloomberg. However, Zuckerberg asserted the company is focused on advancing its AI and metaverse vision. With Meta pouring money into these futuristic bets, the $700 million yearly payout gives Zuckerberg a substantial personal reward.