This text initially appeared on Enterprise Insider.
After a tough couple of years, Meta is flying: Income is rising once more, income are manner up after some painful belt-tightening, and its inventory is at a document excessive.
What might presumably go fallacious?
Nicely, possibly Mark Zuckerberg, its CEO, might get harm, or worse, in a cage match?
That is what Meta is suggesting in a brand new Securities and Trade Fee submitting out this week. Within the firm’s latest annual report, it instructed buyers 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 underneath “danger components”:
We at the moment rely on the continued companies and efficiency of our key personnel, together with Mark Zuckerberg. Mr. Zuckerberg and sure different members of administration take part in numerous high-risk actions, reminiscent of fight sports activities, excessive sports activities, and leisure aviation, which carry the chance of significant damage and dying.
Meta is presumably referring to Zuckerberg’s well-documented embrace of every kind of brotastic enjoyable, together with blended 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 way in which: Final yr, he tore his ACL in a coaching combat.
Zuckerberg actually 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 folks insisted was going to be an actual factor however by no means panned out).
However he would be the solely Large Tech CEO who’s spelled that out as an issue for buyers.
Musk’s Tesla, as an illustration, merely factors out that the corporate is “extremely dependent” on his companies and does not point out the prospect of him crashing considered one of his Gulfstreams. (It does, nevertheless, say that Musk “doesn’t commit his full time and a focus to Tesla” as a result of he is additionally operating SpaceX, X, and different ventures.)
Friends reminiscent of Microsoft, Apple, and Amazon both say that their CEOs are essential or do not even point out them.
Meta reps didn’t instantly reply to a request for remark. However Zuckerberg mainly did, by responding to a submit concerning the 10-Ok submitting on Threads:
It is price stating that whereas the “danger issue” part of any public firm will be helpful to scan, because it lays out every kind of issues that would come up, it normally just isn’t the form of factor most buyers care about. The purpose is to insulate the corporate from legal responsibility in case one thing does go fallacious: “See? We instructed you this might occur. Now inform your attorneys to cease bothering us.”
So whereas Meta does take Zuckerberg’s well-being very significantly — in 2022, it spent $15 million on private safety for him and his household — it is unlikely it thinks he’ll get actually, actually harm. However they’re letting us it might occur, simply in case.