Mark Zuckerberg: Late Thursday, Meta declared its quarterly dividend would be 50 cents per share and authorized an extra $50 billion in share repurchases. The platform witnessed a $196 billion stock market value increase the next day making it the largest one-day gain by any firm in the history of Wall Street. This surge helped Zuckerberg to surpass Microsoft CEO Bill Gates on the billionaire chart.
Meta Witnesses Record-Breaking Surge
In the recent development, Meta’s stock increased 20.3% for the session, marking the third largest percentage gain since the company’s Wall Street debut in 2012 and its largest one-day increase in a year. Meta now has a stock market value of around $1.22 trillion.
The recent recording-breaking surge became a reason for the celebration for Zuckerberg as it significantly increased his net worth to $165 Billion, making him richer than the renowned CEO of Microsoft, Bill Gates.
Meta to Receive Additional $174 million
As per a report, the Zuckerberg-owned company, Meta will also get an estimated $174 million in cash when it gives its first dividend in March this year. While dividends are usually associated with established and slow-growth companies, Meta has become the fourth most valuable tech company after Apple, Microsoft and Nvidia.
“Paying a dividend suggests the company wants to reboot its reputation and be taken more seriously. But ultimately the amount being paid is only a token gesture,” Dan Coatsworth, an investment analyst at AJ Bell said.
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