Zuckerberg’s Wealth Plunges by $24 Billion After Meta Shock
Mark Zuckerberg Lost $24 Billion Overnight, As Meta's Stock Dipped 23 Percent
Zuckerberg’s Wealth Plunges by $24 Billion After Meta Shock, Mark Zuckerberg Lost $24 Billion Overnight, As Meta’s Stock Dipped 23 Percent.
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 per cent at 1025am in New York on Thursday.
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.
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.
Today is a very interesting day in history – for the first time in history, Facebook’s daily users have not decreased in any quarter. This has never happened before. Every time e increases and we know, about 2 billion users of Facebook now.
Daily users have gone from 1.929 billion to 1.930 billion
Meta said that this is due to two reasons – TickTock Type Competition and Apple’s new privacy policy where targeted ads cannot be given to users.
Meter shares have fallen 23% since the news broke, and Zuckerberg’s Net Worth has fallen ২৪ 24 billion overnight.
What do you think? Can a 16-year-old social media company like Facebook survive by competing with the new world’s tick-tock type thing?
Actually this is high time for tiktok to grow up and make wonderful strategies! though I’m not a tiktok fan or even user.
A large part of the new generation that is coming online is becoming tick-tock, Twitter, Instagram-oriented, even the old Facebook users. Moreover, there are other reasons why people can reduce the use of Facebook, one of them is the privacy policy.
TickTock is a growing sector. While there has been a flurry of content before, now mainstream content creators are slowly entering, suggesting that TickTock will grow much more in the years to come. So if Facebook can’t overcome their weaknesses, then the dark time of Facebook may come.
Naturally, according to the life cycle, Facebook will go a little downward. But it is like a drop of water in an ocean. Mr. Zuckerberg will be able to cover even if such a billion-dollar bill is leased.
