February 6, 2023

Taylor Daily Press

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Mark Zuckerberg has already lost more than half of his fortune this year |  News

Mark Zuckerberg has already lost more than half of his fortune this year | News

According to the Bloomberg Billionaires Index, Mark Zuckerberg has seen about half of his fortune, about $55 billion, evaporate since the start of the year. Since he changed his company’s name Facebook to Metaverse in October 2021, he has lost $71 billion. In the list of the richest billionaires, Zuckerberg slipped from sixth place at the beginning of this year to 20th place.

The main reason behind this is the drop in the Meta share price. Other tech billionaires have also seen their fortunes decline, but their losses have been much smaller. For example, Elon Musk, the richest of them all, lost just $2.5 billion this year. Amazon founder Jeff Bezos (third place) lost $44.4 billion, and Microsoft founder Bill Gates lost $26.2 billion.

Mark Zuckerberg’s net worth peaked at around $140 billion in September 2021. A month later, he announced a transformation Facebook to Meta With the aim of shifting the company’s focus tometaversea digital world characterized by augmented and virtual reality.

However, at the beginning of February, Meta’s share suffered a major blow to the stock market. As a result of weak quarterly results and gloomy expectations, no less than 25 percent naturally. The growing competition from the popular app TikTok also played a role, according to Zuckerberg.

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