February 22, 2024

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The New Meta Risk Factor: Mark Zuckerberg's Extreme Sports

The New Meta Risk Factor: Mark Zuckerberg's Extreme Sports

Meta CEO Mark Zuckerberg with UFC legends Israel Adesanya, left, and Alex Volkanovski.
Diana “Mick” McDougall for Insider; Mark Zuckerberg

  • Meta CEO Mark Zuckerberg loves extreme sports and other high-risk activities.
  • Last year, he was injured while training in mixed martial arts.
  • Now Meta is warning investors that Zuckerberg's risk tolerance could pose a problem for the company.

Nearly two years later, Meta is flying: revenues are growing again, profits are soaring after some painful retrenchment, and its stock is at a record high.

What could go wrong?

Well, maybe Mark Zuckerberg, its CEO, gets hurt, or worse, in a cage match?

This is what Meta suggests in a new file Securities and Exchange Commission Deposit this week. In the company's most recent annual report, it told investors that Zuckerberg routinely does risky things for fun, and that it would be a real problem for the company if he was injured while doing so.

Of dead 10 Kclassified under “Risk Factors”:

We currently rely on the services and continued performance of our key employees, including Mark Zuckerberg. Mr. Zuckerberg and certain other members of management engage in various high-risk activities, such as combat sports, extreme sports, and recreational aviation, which involve the risk of serious injury and death.

The meta is supposed to reference Zuckerberg's well-documented embrace of all kinds of mega-fun, including mixed martial arts, hoverboarding, and CrossFit. He has also been trained to obtain a pilot's licence, Information reported.

and he he have He's been beaten along the way: Last year, he tore his anterior cruciate ligament during a practice fight.

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Zuckerberg certainly isn't the only tech mogul who likes this stuff. His rival Elon Musk, for example, flies himself all the time, and has challenged Zuckerberg to a cage match (which some people say) He insisted on It will be a real thing but it's never finished.)

But he may be the only Big Tech CEO to point this out as a problem for investors.

For example, Musk's company Tesla simply states that the company “It depends greatly” for his services and did not mention the possibility of one of his Gulfstream planes crashing. (However, he does say that Musk “is not devoting his time and attention entirely to Tesla” because he also runs SpaceX, X, and other projects.)

Peers like Microsoft, Apple, and Amazon say their CEOs are important or don't even mention them.

Meta representatives did not immediately respond to a request for comment.

It's worth noting that while the “Risk Factor” section of any public company can be worth examining, because it identifies all the types of problems that can arise, it's usually not the kind that most investors are interested in. The goal is to isolate the company from… Legal liability If something goes wrong: “See? We told you this could happen. Now tell your lawyer to stop bothering us.”

So, while Meta takes Zuckerberg's well-being seriously – it has spent money in 2022 15 million dollars Regarding the personal security of himself and his family – it is unlikely that he believes that he will truly be harmed. But they allow us to could It happens, just in case.

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