Meta co-founder Mark Zuckerberg has lost his title as one of the ten richest people on the planet since 2015. He is now estimated to be worth $84.3 billion according to Forbes magazine.
It is the first time the 37-year-old hasn’t been one of the 10 richest people on earth since summer 2015. Zuckerberg owns nearly 13% of Meta, which recently rebranded from Facebook.
Zuckerberg’s net worth dropped after losing $29.8 billion due to Meta shares plummeting in the market on Thursday. Shares of Meta dropped nearly 25 per cent in after-hours trading after the firm announced lower-than-expected revenue figures. A steep decline in Facebook users–a first in the social site’s history– and Apple’s new privacy changes will reportedly cost Meta $10 billion.
In a release, Meta CFO Dave Wehner said, “We believe the impact of iOS overall is a headwind on our business in 2022. It’s on the order of $10 billion, so it’s a pretty significant headwind for our business”.
This $29.8 billion loss is the second-largest single-day loss in history after Elon Musk tweeted about selling his Tesla stake.
