This text initially appeared on Enterprise Insider.
After a tough couple of years, Meta is flying: Income is rising once more, income are approach up after some painful belt-tightening, and its inventory is at a report excessive.
What may probably go incorrect?
Nicely, perhaps Mark Zuckerberg, its CEO, may get harm, or worse, in a cage match?
That is what Meta is suggesting in a brand new Securities and Change Fee submitting out this week. Within the firm’s latest annual report, it advised traders that Zuckerberg routinely did dangerous stuff for enjoyable — and that it might be an actual drawback for the corporate if he acquired injured doing that.
From Meta’s 10-Ok, filed below “danger elements”:
We presently rely upon the continued companies and efficiency of our key personnel, together with Mark Zuckerberg. Mr. Zuckerberg and sure different members of administration take part in varied high-risk actions, comparable to fight sports activities, excessive sports activities, and leisure aviation, which carry the chance of significant damage and loss of life.
Meta is presumably referring to Zuckerberg’s well-documented embrace of all types of brotastic enjoyable, together with combined martial arts, hydrofoiling, and CrossFit. He has additionally been coaching to get his pilot license, The Data reported.
And he has gotten banged up alongside the best way: Final yr, he tore his ACL in a coaching battle.
Zuckerberg definitely is not the one tech mogul who likes these things. His rival Elon Musk, as an illustration, flies himself round on a regular basis, and he famously challenged Zuckerberg to a cage match (which some individuals insisted was going to be an actual factor however by no means panned out).
However he would be the solely Massive Tech CEO who’s spelled that out as an issue for traders.
Musk’s Tesla, as an illustration, merely factors out that the corporate is “extremely dependent” on his companies and would not point out the prospect of him crashing certainly one of his Gulfstreams. (It does, nonetheless, say that Musk “doesn’t dedicate his full time and a spotlight to Tesla” as a result of he is additionally operating SpaceX, X, and different ventures.)
Friends comparable to Microsoft, Apple, and Amazon both say that their CEOs are necessary or do not even point out them.
Meta reps didn’t instantly reply to a request for remark. However Zuckerberg principally did, by responding to a publish concerning the 10-Ok submitting on Threads:
It is price declaring that whereas the “danger issue” part of any public firm will be helpful to scan, because it lays out all types of issues that would come up, it normally just isn’t the form of factor most traders care about. The purpose is to insulate the corporate from legal responsibility in case one thing does go incorrect: “See? We advised you this might occur. Now inform your attorneys to cease bothering us.”
So whereas Meta does take Zuckerberg’s well-being very critically — in 2022, it spent $15 million on private safety for him and his household — it is unlikely it thinks he will get actually, actually harm. However they’re letting us it may occur, simply in case.
