Elon Musk Takes A Jab At Facebook Amid Mark Zuckerberg’s Comeback

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.

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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.

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