‘High risk: High reward’: Mark Zuckerberg’s come back as Meta says extreme sports could hurt him

The company’s stock has reached a record high, surging approximately 20% after Meta’s quarterly results surpassed Wall Street’s expectations. As a result, the co-founder Mark Zuckerberg’s net worth, associated with Facebook, increased by an impressive $27.1 billion. Currently valued at $169.5 billion, he has now become the fourth wealthiest individual, surpassing Bill Gates, according to the Bloomberg Billionaires Index.

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As per a report by Business Insider India, in the latest annual report, the company informed investors that Zuckerberg engages in adventurous and high-risk activities for enjoyment. It emphasized that any potential injury to Zuckerberg during these pursuits could pose a significant concern for the company.

The report noted that within Meta’s 10-K filing, specifically under the section titled “Risk Factors,” highlighted, “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.”

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“Meta” is likely referring to Mark Zuckerberg’s widely reported engagement in various recreational activities, characterized by a mix of dynamic and adventurous pursuits. This includes his involvement in activities such as mixed martial arts, hydrofoiling, and CrossFit, The Information reported.

Additionally, there are reports that he is actively pursuing a pilot’s license.

While perusing the “risk factor” section in the disclosure documents of public companies can offer insights into potential challenges, it’s worth noting that many investors may not prioritize this information. In the case of Mark Zuckerberg, his penchant for adventurous activities isn’t unique among tech leaders. For instance, Elon Musk, a competitor, frequently pilots his flights and even playfully challenged Zuckerberg to a cage match, though it never materialized.

Also Read: Mark Zuckerberg commits to developing Artificial General Intelligence: ‘Want to work on more ambitious problems’

In response to a post about Meta’s 10-K filing on Threads, Zuckerberg essentially acknowledged the high-risk nature of his activities by stating, “High Risk = High Reward.”

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In contrast, companies like Microsoft, Apple, and Amazon either stress the importance of their CEOs or don’t extensively mention them in such risk assessments.

The report noted that although Meta demonstrates a serious commitment to Mark Zuckerberg’s safety, evident in the substantial $15 million spent on personal security for him and his family in 2022, the company doesn’t necessarily anticipate severe harm to him.

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Published: 04 Feb 2024, 12:16 PM IST