Latest News

Zuckerberg to Get $700 Million a Year From Meta’s New Dividend

0

S&P Futures

4,954.25

+25.75(+0.52%)

 

Dow Futures

38,630.00

+5.00(+0.01%)

 

Nasdaq Futures

17,599.00

+162.25(+0.93%)

 

Russell 2000 Futures

1,983.20

+0.60(+0.03%)

 

Crude Oil

74.20

+0.38(+0.51%)

 

Gold

2,073.00

+1.90(+0.09%)

 

Silver

23.28

+0.05(+0.21%)

 

EUR/USD

1.0881

+0.0006(+0.05%)

 

10-Yr Bond

3.8630

0.0000(0.00%)

 

Vix

13.88

-0.47(-3.28%)

 

GBP/USD

1.2749

+0.0004(+0.03%)

 

USD/JPY

146.6230

+0.2100(+0.14%)

 

Bitcoin USD

43,108.26

+885.83(+2.10%)

 

CMC Crypto 200

885.54

0.00(0.00%)

 

FTSE 100

7,622.16

-8.41(-0.11%)

 

Nikkei 225

36,158.02

+146.56(+0.41%)

 

(Bloomberg) — Meta Platforms Inc. Chief Executive Officer Mark Zuckerberg stands to receive a payout of about $700 million a year from the social media giant’s first-ever dividend for investors.

Most Read from Bloomberg

Donald Trump Loses London Case Against Ex-MI6 Spy Over Kremlin Dossier

A $560 Billion Property Warning Hits Banks From NY to Tokyo

QQQ Up in Late Trading as Meta Soars, Apple Falls: Markets Wrap

Apple’s China Slump Deepens Even as Total Sales Grow Again

Lewis Hamilton to Join Ferrari F1 Team in 2025, Leaving Mercedes

Meta announced a quarterly cash dividend of 50 cents a share for Class A and B common stock beginning in March. With Zuckerberg holding about 350 million shares, he would take home about $175 million in each quarterly payment before taxes, according to data compiled by Bloomberg.

Meta’s move to pay a dividend sends a signal about the company’s view of its growth potential. Often, faster-growing tech companies eschew dividends in favor of using earnings to develop new products or make expensive acquisitions. While Meta is spending big on artificial intelligence initiatives, its acquisition prospects are dwindling in the face of regulatory opposition.

After Meta fired about 21,000 people and narrowed its priorities, the stock almost tripled in 2023. The new dividend and an additional $50 billion in share buybacks may win more patience from investors with Zuckerberg’s long-term bets on artificial intelligence and the metaverse.

Zuckerberg took home $27.1 million in total compensation in 2022, including private security costs and a base salary of $1, according to filings. Meta hasn’t yet reported executive compensation for last year.

A spokesperson for the company declined to comment.

Most Read from Bloomberg Businessweek

Elon Musk May Have Lost More Than a $55 Billion Payday

Chinese Students Abroad Struggle With Tuition as Economy Falters

AI Is Helping Pick What You’ll Wear in Two Years

AI Can Speed Drug Discovery. But Is It Really Better Than a Human?

There’s So Much Data Even Spies Are Struggling to Find Secrets

©2024 Bloomberg L.P.

Why Super Micro Computer Stock Rocketed to New Highs This Week

Previous article

Apple’s stock falls as its return to growth could prove short-lived

Next article

You may also like

Comments

Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News