Mark Zuckerberg Just Made $27B in a Single Day

Meta's stock soars, even after his public apology
By John Johnson,  Newser Staff
Posted Feb 2, 2024 2:10 PM CST
Mark Zuckerberg Just Made $27B in a Single Day
Meta Founder CEO Mark Zuckerberg testifies before a Senate committee Wednesday, Jan. 31, 2024.   (AP Photo/Jose Luis Magana)

Mark Zuckerberg had to give a remarkable public apology this week over the abuses of social media. Friday's financial news might take some of the sting away: His net worth surged by about $27 billion, reports Bloomberg. The astonishing boost came because Meta's stock price soared after the company posted its strongest quarterly sales in more than two years and initiated its first-ever dividend, per the Wall Street Journal. And assuming the 39-year-old Facebook co-founder doesn't sell any shares, he's due to make about $700 million a year thanks to that dividend, reports CNN.

The AP credits Meta's big quarter to digital advertising. "The company can talk all it wants to about AI and the metaverse, but it's still a social media company that gets nearly all its revenue from advertising, and advertisers still clearly love Meta," said tech analyst Debra Aho Williamson. Zuckerberg is moving up the ranks of the world's richest thanks to the big day—he's now worth $169 billion and ranked at No. 4 behind Jeff Bezos ($194 billion) on the Forbes billionaire list. Ahead of them are Elon Musk at $198 billion and Bernard Arnault and family at $212 billion. (More Mark Zuckerberg stories.)

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