Mark Zuckerberg shocked everyone when he said that a new dividend would bring him $700 million a year. This was after the backlash he got on Capitol Hill.
Zuckerberg has been criticized after a lot of worried parents and people spoke out about how dangerous it can be for kids to use his social media sites. A lot of people came to an event to talk to Mark Zuckerberg and the CEOs of other social media sites, like Snap, X, and TikTok, about how they aren’t doing enough to protect kids from being abused and exploited online.
Meta is going to pay a cash payout of $.50 per share on common stock every three months starting in March. This is what caused Zuckerberg’s huge pay raise. Mark Zuckerberg owns about 350 million shares, which means he will get about $175 million every three months, or $700 million a year.
Zuckerberg made about $28 million when Meta shares went up 20% on Friday. He is doing well financially, but many people aren’t ready to support this if he isn’t addressing their main concerns.
Josh Golin is the executive head of Fairplay, a group that works to keep kids safe online, and he spoke out about Zuckerberg’s plans. “Mark Zuckerberg should feel ashamed that he cares more about making his next billion dollars than the health and safety of the young people who use his service the most.” “We hope he won’t buy his 29th house with this money; instead, he’ll set up a victim’s compensation fund,” Josh Golin said.
The head of the Center for Countering Digital Hate, Imran Ahmed, said, “Meta sees customers as a resource that can be used to make money instead of as people with basic human and civil rights.” CEOs will continue to put money ahead of people’s safety until lawmakers step in.
Mark Zuckerberg is now the fourth richest person in the world as of Friday. This has caused a lot of attention because people are wondering what his goals are and whether he really cares about how his social media platforms hurt people.
