All news

Mark Zuckerberg drops out of Top 10 richest people as Meta’s shares plummet — Forbes

On February 2, the company released a quarterly report with weak growth forecasts and lower net income

NEW YORK, February 4. /TASS/. Meta’s founder Mark Zuckerberg moved down to the 12th position in the list of the richest people in the world after the shares of his company fell in price on Thursday. This is according to the Forbes magazine, which is being kept in real time.

During the day Zuckerberg lost $29.7 billion (25.9%) and at the moment his fortune is estimated at $84.8 billion. This daily reduction in the capital is one of the largest in history.

Probably only Elon Musk is ahead of Zuckerberg in this list of anti-records, the magazine notes. Last year, the head of Tesla lost $33 billion in a day.

Zuckerberg has been in the Top 10 richest people since 2015, according to CNNB.

On Wednesday, Meta released a quarterly report with weak growth forecasts and lower net income. In addition, the company reported a quarterly decline in the number of users, which was in particular attributed to stronger competition with the TikTok platform, Forbes wrote.

Investors also drew attention to the expected increase in costs in connection with the development of the metaverse concept.

As a result, Meta's shares plummeted by 26% by Thursday evening (capitalization decreased by more than $230 bln), which was the worst performance for the company, formerly called Facebook, since the company went public in 2012. Zuckerberg owns approximately 13% of his company.

According to the Fortune magazine, the daily fall in the value of shares of Meta on Thursday was the largest in history among all US companies the securities of which are listed on the exchange. In addition, after Meta shares decreased in price, key US stock indices showed the most serious decline in a year.

In Bloomberg's billionaire rankings, Zuckerberg is ranked 10th with a net worth of $89.6 billion. According to this ranking, the head of Meta lost $31 billion.