Facebook changes its name to Meta in major rebrand

Facebook has changed its corporate name to Meta as part of a major rebrand. Facebook boss Mark Zuckerberg announced the new name as he unveiled plans to build a “metaverse” – an online world where people can game, work and communicate in a virtual environment, often using VR headsets. He said the existing brand could not “possibly represent everything that we’re doing today, let alone in the future”, and needed to change. The company said it would better “encompass” what it does, as it broadens its reach beyond social media…

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Facebook founder, Mark Zuckerberg, worth $104 billion

Keeps $2.3 bn in cash The founder of Facebook, Mark Zuckerberg, has personified the popular narrative that explains why the rich hardly keep most of their funds in the bank. The 36-year-old CEO and founder of the biggest social media company, Facebook, believed to be worth $104 billion, keeps just $2.3 billion in cash (4.4% of his net wealth).  The value of his present cash valuations is based on an analysis of insider transactions — mostly from the sale of his stock holdings valued by an analysis retrieved from Bloomberg…

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