The harsh 24% beating on the share price of Facebook, which has been listed as Meta since last year, has reduced Zuckerberg’s net worth by more than $27 billion to $94 billion in one day, according to data agency Bloomberg. That puts him out of the top ten richest people.
The decline in the number of daily users in particular gave investors the impetus to sell the Meta share en masse. The lower quarterly profitability of the social media company also contributed to the sell-off. With the price fall, more than $230 billion in stock market value goes up in smoke.
For the richest person in the world Elon Musk, 2022 is also not exactly going smoothly with his wealth. On balance, he lost $36 billion to $224 billion due to the weakening of Tesla stock, in which he has a large stake.