• In Meta's latest annual filing, the company said CEO Mark Zuckerberg's involvement in "combat sports" and other activities is a risk to investors.
• "Mr. Zuckerberg and certain other members of management participate in various high-risk activities, such as combat sports, extreme sports, and recreational aviation, which carry the risk of serious injury and death," the company said in the SEC filing.
• Zuckerberg and Tesla CEO Elon Musk had agreed to a cage match last year, but a fight never materialized.

Mark Zuckerberg's preference for mixed martial arts and water sports is not only a personal hazard, it's also a risk to investors.

In its annual financial report for 2023 filed Friday, Meta disclosed a new risk factor that pertains to Zuckerberg and any other executives engaged in potentially dangerous hobbies.

"Mr. Zuckerberg and certain other members of management participate in various high-risk activities, such as combat sports, extreme sports, and recreational aviation, which carry the risk of serious injury and death," Meta said. "If Mr. Zuckerberg were to become unavailable for any reason, there could be a material adverse impact on our operations." 

Zuckerberg — Meta's founder, CEO and biggest shareholder — has a well-documented interest in MMA and extreme sports such as hydrofoiling, a pastime he showed off in patriotic fashion.

In November, Zuckerberg revealed that he tore his anterior cruciate ligament, or ACL, during MMA training and had undergone surgery to replace it.

His fighting hobby also made headlines last year as part of an online spat with Tesla CEO Elon Musk. The tech executives, two of the world's four richest people, have long butted heads on matters related to artificial intelligence and are direct rivals now that Musk owns social media platform X.

Zuckerberg and Musk had agreed to take their rivalry into the cage for an MMA match. For various reasons, the fight was eventually called off. Each accused the other of bailing.

In response to a Morning Brew post on Threads about the new risk factors, Zuckerberg posted a GIF stating, "High risk = high reward."

Meta shares soared Friday after the company reported a tripling of fourth-quarter profit and issued its first-ever dividend.

WATCH: Zuckerberg apologizes to parents at online child safety hearing

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