Mark Zuckerberg Loses $30 Billion in One Day as Facebook Stocks Plunge
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Facebook CEO Mark Zuckerberg has lost $31 billion of his net worth after the company’s stocks fell on Thursday
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The 37-year-old is now worth $89.6 billion, according to Bloomberg’s Billionaires Index
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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.
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