this post was submitted on 03 Feb 2024
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This is the best summary I could come up with:
Mark Zuckerberg’s net worth increased by more than $28 billion between your morning coffee and your lunch break.
The Meta founder and CEO — who is already worth more than $140 billion, according to Bloomberg’s billionaire index — has cleaned up from Meta’s share price skyrocketing over the past day, after the company announced its first-ever cash dividend program.
Zuckerberg owns about 350 million shares of the company, according to the US Securities and Exchange Commission
Unless he sells or buys more shares of company stock, and assuming the quarterly dividend remains at the same level, Zuckerberg will also gain off of the company’s dividend payouts to the tune of approximately $700 million per year.
This upswing plasters over potential harm to Meta stock after Zuckerberg, alongside other social media company heads, testified Wednesday before the Senate Judiciary Committee about the risks their products pose to young people.
Zuckerberg apologized to the parents in attendance, who say their children were victims of social media.
The original article contains 323 words, the summary contains 164 words. Saved 49%. I'm a bot and I'm open source!
Step 1: Layoff thousands of employees,
Step 2: Buy back your stock in order to juice the numbers before earnings
Step 3: Utter the word “A.I.” on CNBC a couple of times.
Step 4: Watch as the Market Makers (who are net long your stock) abuse their privilege to boast a single day gain of $200,000,000,000 (two hundred billion dollars)