Mark Zuckerberg Loses $30 Billion in One Day as Facebook Stocks Plunge

• Facebook CEO Mark Zuckerberg has lost $31 billion of his net worth after the company’s stocks fell on Thursday

• The 37-year-old is now worth $89.6 billion, according to Bloomberg’s Billionaires Index

• The shocking loss means that Zuckerberg drops out of the list of the world’s top 10 richest people for the first time since 2015

  Meta’s shares suffered a record-breaking fall that caused the net worth of CEO Mark Zuckerberg to fall by $31 billion on Thursday.

The billionaire’s net worth has fallen to $89.6 billion, according to Bloomberg’s Billionaires Index as he drops out of the list of the world’s top 10 richest for the first time since 2015.
Zuckerberg who owns 13% of Meta, which was recently rebranded to Facebook has lost more than $35 billion in 2022.
His $31 billion loss on Thursday is the second-largest single-day wealth drop in history, only surpassed by $35 billion lost by Elon Musk in November 2021, when he announced that he was going to sell Tesla shares.

Meta’s stock plunged after the company warned investors about weaker-than-expected revenue growth for the next quarter on Wednesday.

The company claims to have been severely affected by recent privacy changes from Apple, which is set to cost it over $10 billion.

Zuckerberg’s loss as a result of the company’s stocks dropping by 26%, in its biggest single-day loss ever, wiping $200 billion off its market cap.

Follow Naija.FM on our social media handles Facebook, Instagram, and Twitter to keep up with trending news, breaking news, entertainment news, and hot gist.