Meta hires top Apple engineer for development of new AI systems

Published: 2025-07-13 04:00:08 ET AAPL

Published on 07/13/2025 at 04:00, updated on 07/13/2025 at 04:01

Key takeaways

Meta wants to excel in AI and is willing to spend big to achieve that. The latest development is the hiring of Ruoming Pang, a well-known IT expert from Apple. He had worked for years at the tech company as a senior software engineer, but is now making the switch. That move involves a contract worth more than $200 million (€170 million).

In addition to Pang, Meta is looking to poach other engineers from rival tech companies. To do so, it uses performance targets and stock bonuses. With the current share price hovering around €624 and a market capitalization of over €1.4 trillion, Meta’s equity is of considerable value. Zuckerberg, Meta’s founder, is among the richest people in the world, with an estimated net worth of €215 billion.

Exit at Apple and starting at Superintelligence

Ruoming Pang had long been a well-known name in the tech world, and Meta had had its eye on him for some time. When the offer was made, Apple refused to match it. Tim Cook, Apple’s CEO, was not willing to significantly increase his salary.

At Meta, Pang will now join the Superintelligence division. There, he will work with colleagues to develop advanced AI systems. Reportedly, salaries within that Superintelligence group are among the highest in the world, comparable to those of CEOs at major banks.

Interesting deal for Pang

The deal includes an attractive signing bonus, a solid base salary, and shares in Meta. Part of the salary is also tied to the company’s performance targets. The better Meta performs, the more Pang will be paid. In addition, the shares are a huge plus, as employees normally only receive that benefit after four years. (jv)