Although WhatsApp went down, Mark Zuckerberg made $11 billion

Between 5:00 p.m. and 6:00 p.m. this Thursday, WhatsApp crashed in Argentina, and all users experienced problems sending and receiving messages. “Another problem for Meta,” the messaging app’s parent company, some thought. “More criticism for Mark Zuckerberg”, CEO of the company, opined others. However, the fall involved neither one nor the other: the owner of Facebook reported good numbers for its first quarter and that made the Mark Zuckerberg’s fortune will total almost 11,000 million dollars.

In its earnings report, Meta — which has Facebook, Instagram and WhatsApp under its domain — missed Wall Street forecasts, and had its slowest growth in many years. In fact, the tech giant also noted that its business was affected by the Russo-Ukrainian war — Facebook and Instagram were blocked in Russia last month — and that he expects those challenges to continue in the current quarter.

How did Zuckerberg’s fortune skyrocket, then? It’s all due to Number of users. That figure is make or break for social media companies, because they are users what matters most to advertisers. And the advertisers are, at the end of the day, the ones that put the most money for the growth or not of the company.

It was so in the last quarter of 2021 Facebook lost users for the first time in its history and its shares collapsed. How many? Enough for the social network to have a stock market drop of 230,000 million dollars. With blame on TikTok and the false image of growth that the pandemic gave, Zuckerberg was one of the most affected: due to his shareholding in the company, his personal fortune suffered a drain of around 30,000 million dollars.

Win Facebook and win Zuckerberg

However, this time he won. in the quarter January March, Facebook had a noticeable growth in users, thus reversing last year’s trend and exciting investors and advertisers. These illusions were immediately translated into the value of the shares, which increased by 19%, but finally closed the day at +17%. In this way, Zuckerberg’s fortune regained strength and grew by 11,000 million dollars.

Facebook had a great user growth

That number is not enough to make up for last quarter’s loss. In fact, Meta stock is still 39% lower than when 2022 started and faces serious obstacles to recovery. However, you always start somewhere, and this first growth augurs a more promising future than before.

CNN reported that with this increase Mark Zuckerberg climbed a few places on the list of the great billionaires made by Bloomberg. The Facebook creator used to be No. 9, but the fourth-quarter slump knocked him down to No. 18, with a net worth of $65 billion. Now, thanks to the rally this Thursday, his net worth jumped to an estimated $76 billionsomething that will probably make it climb a few places in the ranking.

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Although WhatsApp went down, Mark Zuckerberg made $11 billion