Mark Zuckerberg, the founder and CEO of Meta, saw his net worth increase by over $28 billion in a short period of time. This significant increase in wealth is a result of Meta's share price skyrocketing after the company announced its first-ever cash dividend program. The news of a quarterly dividend of $0.50 per share caused Meta's shares to rise by more than 20%. Zuckerberg, who already has a net worth of over $140 billion, owns about 350 million shares of the company. Assuming he does not sell or buy more shares and the dividend remains the same, he stands to gain approximately $700 million per year from the company's dividend payouts. While dividends are attractive to shareholders, they also face criticism for artificially inflating stock prices without investing in employees or business improvements. This positive development for Meta comes after Zuckerberg testified before the Senate Judiciary Committee about the risks of social media platforms to young people. During the hearing, he apologized to parents whose children have been negatively affected by social media and expressed a commitment to industry-wide efforts to prevent such harm.
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