Posted on: February 6, 2024, 09:56h.
Last updated on: February 6, 2024, 09:56h.
Meta, fresh off its announcement that it will begin paying shareholders dividends ahead of its 20th anniversary, news that raised the company’s market cap by more than $140 billion, is cautioning investors about its founder and CEO’s personal lifestyle.
In an investor note accompanying the Facebook and Instagram owner’s 2023 financial report, Meta said Mark Zuckerberg’s love for combat sports poses risk to the enterprise.
We currently depend on the continued services and performance of our key personnel, including Mark Zuckerberg. Mr. Zuckerberg and certain other members of management participate in various high-risk activities, such as combat sports, extreme sports, and recreational aviation, which carry the risk of serious injury and death,” the company said in its Risks Related to Our Business Operations segment of the annual filing.
“If Mr. Zuckerberg were to become unavailable for any reason, there could be a material adverse impact on our operations,” the notice added.
Zuckerberg, who founded Facebook out of his Harvard dorm in 2004, is worth an estimated $161 billion by Forbes.
Zuck Vs. Musk
Last year, Zuckerberg and Elon Musk, the world’s richest human with an estimated net worth of $198 billion, teased via their social media platforms that the two billionaires might square off in a boxing match.
The feud began when Meta announced plans to develop a social media platform to rival Musk’s X. Meta’s Threads operates similarly to X, which was formerly known as Twitter.
Zuck started the war of words when he said the motivation for Threads was to create a center square social media outlet controlled by a “sane” person — a direct jab at Musk after he took over Twitter in October 2022.
“I’m sure Earth can’t wait to be exclusively under Zuck’s thumb with no other options. At least it will be ‘sane.’ Was worried there for a moment,” Musk tweeted.
When Musk was told he better be careful because the Facebook billionaire is proficient in jujitsu, Musk responded, “I’m up for a cage match if he is lol.”
The joke lit a fire under Zuck. UFC President Dana White said he talked with both tech billionaires about actually coming to blows in the UFC Octagon or another venue of their choosing — perhaps even the Roman Colosseum.
Zuckerberg hit me up first,” White said. The UFC boss explained that the two agreed that proceeds would go to charity.
White said the bout would be “the biggest fight ever in the history of the world.”
Both Zuck and Musk blamed the other for their fight not coming to fruition. Meta warning investors about the company’s chief executive continuing to participate in combat sports might hint that there’s still a small chance the fight could happen.
Several sportsbooks in the US produced hypothetical odds on a Zuckerberg vs. Musk fight, though no bets were accepted. Oddsmakers made Zuckerberg, 39, the heavy favorite at -435. Musk, 52, was the underdog at +350.