Mark Zuckerberg loses $100 billion of his fortune

  • In 2021, Meta posted revenues of nearly $118 billion.

  • In the last quarter of 2021, it acknowledged that the number of daily active users fell to 1.929 million.

  • In 2021, Zuckerberg reached the height of his wealth with a net worth valued at $142 billion.

The economic crisis and the entire global panorama that it has unleashed in the world, are beginning to be shown in the assets and stock falls of many companies. Recently, it was revealed that Mark Zuckerberg has seen his fortune drop by more than 100 billion dollars in the last 13 months, when the share price of his company, Meta, took a nosedive.

According to data from your annual report 2021, its worldwide revenue for that year amounted to nearly US$118 billion; however, for February the social media giant presented a weak fourth quarter 2021 earnings report, after experiencing its first decline in daily active users on Facebook.

Overall, Meta’s growth was uneven because of Apple’s iOS privacy update, along with the company’s transition to short-form videos, known as Reels.

Mark Zuckerberg loses $100 billion

After the shares of the Meta company plummeted, it was revealed that Mark Zuckerberg saw his net worth drop by more than $100 billion in the past 13 months.

According to the Bloomberg Billionaires Index, Zuckerberg’s real-time net worth was pegged at around $36 billion, which knocked him out of the top 20 on the list of the world’s richest people.

Recall that in the month of September 2021, Zuckerberg reached the peak of his wealth with a net worth valued at 142 billion dollars.

Since then, Meta’s share price has fallen more than 67 percent, including a 25 percent drop this Thursday, October 27, after the company’s quarterly report showed a massive drop in earnings.

In that same order, in May 2020, Zuckerberg was the third richest person in the world, behind the founder of Amazon, Jeff Bezos, and Microsoft co-founder Bill Gates. Since then, Tesla CEO Elon Musk has been at the top of the list.

In a report filed Wednesday, Meta said revenue fell for the second straight quarter as the company battles falling ad sales due to stiff competition from growing social media app TikTok.

We assume, some of Meta’s investors are concerned that the company is spending too much money and confusing people with its focus on the metaverse, a concept of virtual, mixed and augmented reality, which few people understand, while also dealing with a fading advertising business.

These falling figures were not only recorded in Meta, as the earnings of Google’s parent company, Alphabet Inc. and Microsoft also suffered this week.

In conclusion, this year the world has suffered an economic crisis that has occurred in many countries, so some companies have been affected to the point of stopping their hiring and expansion, until they are sure that the outlook will improve.

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Mark Zuckerberg loses $100 billion of his fortune