Zuckerberg’s Wealth Plunges by $31 Billion After Meta Shock

Mark Zuckerberg’s wealth dropped as much as $31 billion, among the biggest one-day drops in wealth ever, after Meta Platforms Inc.’s fourth-quarter results fell short of analysts’ expectations.

Meta is in the midst of a historic stock collapse after its earnings on Wednesday showed no growth in monthly Facebook users last quarter relative to the prior period, raising concerns about the company’s future growth. Shares tumbled 24% at 10:25 a.m. in New York Thursday.

Meta’s steep decline leaves Zuckerberg, the company’s chief executive officer, with a net worth of about $92 billion, down from $120.6 billion as of market close on Wednesday, according to the Bloomberg Billionaires Index. It’s enough to push the 37-year-old outside the list of the Top 10 wealthiest people in the world for the first time since July 2015.

A one-day wealth loss of $31 billion would rank as the second-biggest ever caused by a share-price decline, only rivaled by the volatile swings in Elon Musk’s fortune. The world’s richest person lost $35 billion in a day in November as Tesla Inc. shares fell following a Twitter poll in which Musk asked voters if he should sell 10% of his stake in the company. His net worth also plunged $25.8 billion last week.

Meta’s co-founders are also facing unprecedented declines in their personal fortunes. Dustin Moskovitz, the world’s 79th-richest person with a net worth of $21.2 billion as of Wednesday, has lost about $3 billion, while Eduardo Saverin, worth $17.5 billion, is down more than $4 billion. 

The $2.5 billion personal fortune of Sheryl Sandberg, Meta’s chief operating officer, fell by more than $100 million, according to data compiled by Bloomberg. Compared with Zuckerberg, however, Sandberg’s wealth is less concentrated in the company’s shares, softening the blow.

For Meta, the disappointing earnings add to its challenges. It’s in the middle of a number of regulatory fights and also looking to justify its strategic shift to bet on an immersive internet known as the metaverse. Meanwhile, other platforms like TikTok and YouTube are gaining ground with younger users.

Original Article: Zuckerberg’s Wealth Plunges by $31 Billion After Meta Shock (msn.com)

7 thoughts on “Zuckerberg’s Wealth Plunges by $31 Billion After Meta Shock

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  1. Obama NEVER said to Zuckerberg – “You didn’t build that”. But the truth is that Zuckerberg DID NOT build Facebook – he STOLE the idea from 2 seniors when he was a freshman at Harvard (another criminal of Harvard fame). When YOU did not build something – YOU might have a damned hard time fixing it.

  2. The pedophile anti-American, Antichrist of the communist democrat party doesn’t need to lose Facebook, he needs to lose his life for treason

  3. You mess with the children of God, conservative Christians and Jews, and the result will be utter destruction. The Left and their cronies in corporate America are slowly learning that painful lesson. While my heart is smiles with glee that these people are headed for certain destruction, I’m deeply sad for honest people who must depend on these criminals for a livelihood, myself included. But I know who is the REAL boss of the Universe, and He is setting up His plan quite nicely to crush these enemies of Freedom. The prophecies of Jesus cannot be avoided. 100% have not failed and neither will this one. God help us all if we don’t wake up get un-woke by November 2022.

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