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Could Mark Zuckerberg be fired as CEO of Meta?

Mark Zuckerberg’s personal fortune has also plummeted due to his actions with the metaverse. | Font: AFP

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Mark Zuckerberg He is one of the most influential people on the internet. As CEO Targetalso owns Facebook, WhatsApp, Instagram, and Messenger, and actively promotes the growth and adoption of the metaverse.

However, it was this last section that caused the company millions of dollars in losses and a sharp drop in shares, which led shareholders to wonder if it was really worth their effort. Can Mark Zuckerberg fired from a job?

Zuckerberg is in full control

Mark Zuckerberg has structured his company in such a way that it is nearly impossible for him to step down as CEO if he doesn’t want to.

Target has a dual class structure, which means that the average shareholders own one type of stock, class A, while Zuckerberg and a small circle of insiders own another type, class B.

Class B shareholders receive 10 votes per share, while class A shareholders receive only one vote, meaning that Zuckerberg and other class B shareholders are virtually immune.

Zuckerberg alone owns a 90% stake in a Class B company, enough to keep him in full control of the company.

Is there an alternative?

according to invoice insiderProponents of two-class structures argue that “such control is desirable because it allows charismatic and forward-thinking founders and entrepreneurs to pursue their vision … without worrying too much about stock market performance,” the CFA Institute report says. 2018 on topic.

Jay Ritter, professor of finance at the University of Florida, said this logic applies to equity investors. Target.

“Before this year, Facebook stock sold very well, which is one of the reasons investors were willing to buy stocks with lower voting rights,” he said.

However, 2022 was a much less favorable year, but, by the same mechanism of the company, they did not have many options left.

We recommend METADATA, RPP’s technology podcast. News, analytics, reviews, recommendations and everything you need to know about the world of technology.

Source: RPP

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