Elon Musk Takes A Jab At Facebook Amid Mark Zuckerberg’s Comeback
Highlights
- Elon Musk taunts Facebook
- Mark Zuckerberg's wealth increases whoppingly, aligning with burgeoning Meta shares.
- Facebook's steady growth propels speculations.
In a thrilling twist of events, Elon Musk, the CEO & founder of Tesla, recently took a hit at Mark Zuckerberg’s Facebook, slating the platform to be hardly used by anyone in recent days. However, market data hovering over the industry portrays sentiments otherwise, as Zuckerberg recently made a noteworthy comeback with a $27 million increase in his wealth on Friday, following the immense surge noted by Meta as per quarterly results.
Mark Zuckerberg’s $27 Mln Gain Coincides With Meta Stock Rally
As per recent reports, Meta’s CEO, Mark Zuckerberg, witnessed a remarkable financial comeback, emerging $27 billion richer as Meta’s quarterly profits recently surpassed Wall Street’s expectations. Following the surfacing of this data across the market, Meta shares further jotted down a 20% upswing, fueling Zuckerberg’s worth beyond $169 billion. This push aided him in securing the fourth spot on Bloomberg’s billionaire index, surpassing prominence like Bill Gates. Intriguingly, this surge in Zuckerberg’s wealth comes subsequent to a dip below $35 billion as of late 2022, resulting from a decline in tech stocks.
Furthermore, the surge in Meta’s stock also promises Zuckerberg a substantial annual payout of roughly $700 million from the company’s first-ever dividend for investors. This dividend and a $50 billion share buyback align with Meta’s state-of-the-art measures and strategic layoffs, propelling a tripled stock value in 2023.
Despite challenges, Zuckerberg continued to invest in AI and the metaverse for long-term gains. In 2022, Zuckerberg’s total compensation was $27.1 million, including security costs and a symbolic $1 base salary. However, Meta is yet to report executive compensation for the past year.
Also Read: ZetaChain (ZETA) Price Rally Takes A Pause As Liquidations Hit $2 Million
Facebook’s Growth Remains Steady
What’s even more interesting is that Facebook’s user base still illustrates a steady graph even after Mark Zuckerberg’s wealth, noting significant volatility across the U.S. Notably, Facebook remains the second-most used platform nationwide in the U.S. However, Elon Musk shared sentiments in contrast to market data, stating he hardly knows anyone who uses Facebook.
Also Read: ZetaChain (ZETA) Price Rally Takes A Pause As Liquidations Hit $2 Million
- Expert Says A Pi Network Stablecoin PiUSD Could Be A Game-Changer for the Ecosystem
- Dogecoin Gets Major Utility Boost as Trump-Linked Thumzup Prepares DOGE Payments
- Just-In: Binance Officially Re-Enters South Korea Market with Gopax Acquisition
- Coinbase To List Binance Coin (BNB) Amid ‘Listing Fee’ Saga
- Fed’s Stephen Miran Calls for Rapid Rate Cuts Amid U.S.-China Trade Tensions
- Pi Coin Price Gears for Recovery as DEX and AMM Launch Revives Utility Hopes
- Cardano Price Teeters as Whales Exit and Bearish Signal Emerges
- Sui Price Targets $9.5 as Figure Brings SEC-Approved Yield Token YLDS to Sui
- Chainlink Price Eyes $100 as S&P Global Partnership Expands Institutional Adoption
- Solana Price Prediction as Whales Withdraw $169M from Exchanges
- Pro Says Ethereum Price is a Buy Despite Rising Liquidations and BlackRock Selling
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
