Meta CEO and Facebook creator Mark Zuckerberg is not resigning. Amid calls for the CEO’s resignation, a fake announcement has led stockholders to invest in the company.
Over the past year, Zuckerberg’s relationship with investors has been rocky. With the CEO losing billions on the development of his “Metaverse”, investors have called the billionaire out on his extreme expenditure.
Furthermore, recent reports claim that the CEO has surrounded himself with sycophants egging on his virtual world. With this in mind, it’s no wonder investors are excited for his resignation. However, that resignation isn’t coming.
As per New York Post, a false report spread stating that the CEO would be stepping down from the Facebook patent company. The original report stated that Zuckerberg would step down come next year after a significant decline in profit.
As soon as the report released, stocks grew for the company. While only slight, trading closed yesterday 1.4% higher than the day before. This means that investors are looking forward to the day when the company’s longtime CEO has left.
Following the initial report, Meta quickly spoke out against the fake rumour. The company announced that its CEO is not departing, despite the boost in stocks. As it stands, Mark Zuckerberg is there to stay.
Andy Stone, a Meta employee, discredited the initial report on Twitter. The employee simply stated: “This is false.”
Afterwards, multiple commenters tried to state that Stone was simply stating the article was false to protect stock. However, as has now been proven, the departure of the company’s CEO would help stocks grow.
Even if he departed as CEO, Zuckerberg still owns 54% of Meta shares. This is what allows the billionaire to make whatever decisions he deems necessary for the future of the company. As the majority shareholder, everything goes through him.
While the Metaverse blunders have quelled Meta’s growth, it’s still one of the biggest tech companies around. The tech giant isn’t dead yet, despite how many of us wish it would be.