In a jaw-dropping turn of events, Meta, the company behind Facebook, experienced an incredible one-day surge in the stock market, raking in a staggering $196 billion. This astonishing achievement goes down in history as the biggest one-day increase ever recorded on Wall Street. What’s even more remarkable is that Meta’s CEO, Mark Zuckerberg, saw his personal wealth soar to $165 billion, overtaking the legendary Bill Gates.
This financial feat followed Meta’s decision to authorize an additional $50 billion in share repurchases and the announcement of a quarterly dividend of 50 cents per share. This move boosted Meta’s overall market value to a whopping $1.22 trillion, solidifying its status as one of the tech giants.
For Zuckerberg, this surge translated into a personal windfall of $28 billion, and he’s set to pocket around $174 million in cash with Meta’s upcoming first-ever dividend payout in March. Despite a recent hiccup causing a significant market value loss, Meta remains optimistic about the future, with a 35% gain in 2024, driven by advancements in artificial intelligence.