“Meta Revenue Soars and Mark Zuckerberg’s Wealth Increases by $10 Billion: Meta’s Layoffs for Efficiency Pay Off”

Jakarta –

A total of 21 thousand officers Meta hit layoffs gradually for reasons of efficiency, as suggested by the boss, Mark Zuckerberg. The thrift efforts paid off as Meta’s revenue soared and Zuck also hit the jackpot.

In announcing its financial performance for the first quarter of 2023, Meta reported revenue of USD 28.6 billion, exceeding projections from Wall Street. Investors also welcomed the results, where Meta’s share price rose to 14%.

Because much of Zuck’s wealth is related to his shareholding in Meta, his wealth has also increased. As quoted detikINET from Business Insider, the wealth of the founder of Facebook rose dramatically by USD 10 billion to USD 87 billion, the highest increase in the last year.

He is now the 12th richest person on the planet, according to the Bloomberg Billionaire Index. Another version of Forbes says his wealth is close to USD 85 billion. Zuck even rose one rank on the Bloomberg index and outperformed Asia’s richest man, Mukesh Ambani, who according to Bloomberg is worth USD 82.5 billion.

Zuckerberg’s current fortune stands in stark contrast to his fortunes in 2022, when his fortune plummeted by an estimated $70 billion in just the first nine months of the year. That drop pushed him down to 20th place on the Bloomberg Billionaires Index in September 2022.

“We had a great quarter and our community continues to grow,” said Meta CEO Mark Zuckerberg in his official statement.

“Our AI projects are delivering good results across our applications and business. We are also becoming more efficient so we can build better products faster and put ourselves in a stronger position to realize our long-term vision,” he continued.

Meta itself has carried out the first phase of layoffs in November last year which cut 11,000 employees. Last March, Mark Zuckerberg announced a second phase of layoffs in which Meta will lay off an additional 10,000 employees through the end of this year.

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(fyk/fyk)