As Wall Street debates Meta Platforms’ (META) sharp pullback from $800 to below $600, the social media giant has quietly mapped out its most ambitious five-year plan yet.
According to a stock compensation plan disclosed by The Wall Street Journal, Meta has set a target to reach a $9 trillion market capitalization by 2031. Based on Tuesday’s closing price, that would require the stock to surge 500% to $3,727 per share over the next five years.
The contrast could not be starker. As of March 20, Meta traded at just 20 times forward earnings — the lowest valuation among the “Magnificent Seven” tech giants.
The performance-based compensation plan covers core members of Meta’s leadership, including CTO Andrew Bosworth, Chief Product Officer Chris Cox, COO Javier Olivan, CFO Susan Li, Chief Legal Officer C.J. Mahoney, and Vice Chair Dina Powell McCormick. The plan is structured in two tiers: the lowest threshold kicks in when the stock rises 88% to $1,116, while executives can only fully exercise their options if the share price hits $3,727 by 2031.
If the top target is met, Bosworth, Cox, Olivan and Li could each see personal windfalls of up to $2.7 billion, according to estimates. Notably, CEO Mark Zuckerberg is not included in the plan. A Meta spokesperson confirmed the program and underscored its ambitious nature. “This is a big bet,” the spokesperson said. “These pay packages will not be realized unless Meta achieves massive future success, benefiting all of our shareholders.”
Over the past year, Meta’s stock has largely gone sideways. Investor anxiety has mounted over the company’s AI spending — with projected capital expenditures for 2026 ranging from $115 billion to $135 billion, far exceeding last year’s $72 billion. Meanwhile, the latest iteration of its Llama AI model has drawn scrutiny over what some see as underwhelming technical progress.
Yet the company’s underlying financials tell a more resilient story. Meta surpassed $200 billion in annual revenue for 2025, with diluted earnings per share up 11% year over year. Even with heavy AI investment last year, the company generated $43.6 billion in free cash flow. AI is already delivering tangible returns for the core advertising business. Meta’s in-house Andromeda ad recommendation system and the Llama 4 multimodal model helped drive ad impressions up 12% in 2025, while average price per ad climbed 9%.
At 20 times forward earnings, Meta is not only the cheapest of the Magnificent Seven — it also stands out as a relatively attractively priced AI play. CFO Susan Li noted on the Q4 2025 earnings call that operating income for 2026 is expected to exceed 2025 levels, suggesting the company can sustain profit growth even as it funds an ambitious AI buildout.
A $9 trillion ambition, a valuation discount to megacap tech peers, and a five-year timeline that will test both execution and market patience. Whether investors are underestimating Meta’s AI monetization runway or rightly cautious about its soaring capital spending, the coming years may offer a clear answer.
