Mark Zuckerberg, the CEO and co-founder of Meta, has achieved a significant milestone by surpassing Microsoft's co-founder Bill Gates to claim the fourth position among the world's richest individuals. This remarkable feat can be attributed to the impressive 22 percent surge in Meta's stock price, propelling Zuckerberg's wealth by a staggering $28 billion (approximately Rs 2.33 lakh crore).
Following this latest development, Zuckerberg's net worth now stands at an astounding $165 billion (approximately 13.70 lakh crore), overshadowing Gates' $124 billion (approximately Rs 10.30 lakh crore).
The three wealthiest individuals globally, according to Forbes, are Bernard Arnault, the chief of LVMH, followed by Elon Musk and Jeff Bezos. In addition to this financial success, Zuckerberg is set to receive dividends amounting to around $174 million (Rs 1.4 thousand crores). This marks a significant milestone for Meta as it will be paying dividends in March for the first time, with Zuckerberg holding approximately 350 million Class A and B shares. If Meta fulfills its commitment to a 50 percent quarterly dividend, Zuckerberg stands to gain more than $690 million (Rs 5.7 thousand crore) annually, according to a CNBC report.
The upward trajectory of Meta shares is evident, with a 14 percent increase in 2024 and an impressive 109 percent growth over the past 12 months. Since Facebook's initial public offering in 2012, the stock of the California-based company has surged by a remarkable 933 percent. Worth noting is the corporate rebranding from Facebook to Meta Platforms in October 2021.
Despite Meta's financial success, the company frequently graces headlines due to regulatory challenges. Notably, it faced scrutiny last year, resulting in the termination of approximately 21,000 employees, a move that paradoxically led to a threefold increase in the company's stock value.
Looking ahead, Zuckerberg's ambitious plans for artificial intelligence and the metaverse suggest a promising future for Meta. With these long-term visions, the company is poised for further growth and success in the years to come.
(With Agency Inputs)
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