Zuckerberg's Wealth Increased After Mass Layoffs
Meta CEO Mark Zuckerberg's personal fortune increased by $12 billion in a single day, thanks to a 21% rise in the company's stock. According to Business Insider, the market optimism is driven by the company's expenditure cuts and mass layoffs.
"The rise on February 2 complements a series of gains for Meta's shares, which have seen profitability increase to over 50% this year," the article states.
According to the Bloomberg Billionaires Index, Zuckerberg's personal wealth amounts to $57.2 billion, placing him in 21st position. However, at the beginning of 2022, Zuckerberg's fortune was $125 billion.
In November 2022, Zuckerberg announced mass layoffs affecting approximately 13% of his workforce, accounting for over 11,000 people. He has also implemented other cost-cutting measures. Meta plans to continue this strategy within the corporation throughout 2023.
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