Mark Zuckerberg, the Founder and CEO of Meta, which incorporates Fb, Instagram and WhatsApp, suffered a historic lack of fortune as a result of detrimental efficiency of firm shares.
Lastly, Meta introduced its stability sheet for the interval of July-September. Accordingly, the income of the corporate within the third quarter of this yr decreased by 4 % in comparison with the identical interval of the earlier yr and decreased to $ 27.7 billion. The corporate’s internet revenue fell 52 % within the third quarter to $4.4 billion.
These outcomes had been obtained very negatively by the markets. Meta shares fell 24.6 % yesterday.
OWNERS OF 13.5 PERCENT
Meta’s market worth, which was $1.07 trillion on September 10, 2021, dropped to $263.22 billion as of yesterday. Zuckerberg, who owns roughly 13.5% of the corporate’s shares, suffered an excellent lack of wealth as a consequence of this decline.
Zuckerberg misplaced $11.3 billion simply yesterday, in keeping with knowledge from the Bloomberg Billionaires Index. As of at present, the wealth of the well-known billionaire has decreased to 37.7 billion {dollars} and he turned the twenty eighth richest individual on this planet.
EXCEED $100 BILLION
In September 2021, Fb shares peaked, whereas Zuckerberg’s fortune slumped to $142 billion. In different phrases, his fortune has decreased by 104.3 billion {dollars} within the final 13 months. Bloomberg reported that this was the most important wealth meltdown within the listing’s historical past.
SHARES DOWN 71 PERCENT THIS YEAR
The Nasdaq 100 index, which incorporates expertise giants, decreased by 32.2 % in 2022. Due to this fact, a major a part of expertise corporations misplaced worth this yr. However the drop in Meta has been extra drastic. Meta shares fell 71 % in 2022.
IT ONLY LOSE IN 2018
Meta, which was supplied to the general public beneath the identify Fb in 2012, has solely misplaced its traders in 2018. If it doesn’t expertise an excellent rise within the final 2 months, Meta shares may have closed the yr with a loss for the second time in its historical past. Shares fell 27 % in 2018.
On October 28, 2021, Fb modified its identify to Meta by specializing in metaverse applied sciences. Shares have misplaced 69 % since that date.
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