Meta, the parent company of Facebook, has announced its first-ever dividend, with Meta CEO Mark Zuckerberg set to receive $175 million each quarter from the 50 cent-per-share dividend, totaling $700 million annually, from his 13% stake in the company, Business Insider reports.
This comes on top of the significant increase in Meta’s stock price, which rose nearly 200% in 2023. Zuckerberg, already the world’s fifth-richest person with a $142 billion fortune, has seen his wealth grow by 11.2% in 2024.
Meta reported strong fourth-quarter earnings, beating expectations with a 16% increase in revenues and a 69% rise in profits compared to the previous year. The company’s shares rose 15.2% in after-hours trading.
