Mark Zuckerberg: his fortune was cut in half in a few months

From position 6 to position 20 in the ranking of the richest personalities on the planet, 71 billion dollars less in a few months… 2022 is definitely not a good year for mark zuckerbergthe founder of Facebook and the executive director of Goal Platforms Inc., the parent company. The 30-year-old’s switch to the metaverse cost him dearly in the real world, notes Bloomberg September 19 His personal fortune would have been reduced by half, with 71,000 million less to reach 55,900 million dollars. This fall caused him to lose 14 positions in the ranking of billionaires of Bloomberg.

If all the tech giants are having a tough year, Mark Zuckerberg is the only one who has lost so much money. The reason: his fortune is based almost exclusively on the shares of Meta-he would own more than 350 million. However, last September, Meta shares were trading at $382 per share. Today, that number has dropped to $146.18. The group often weathers storms, such as interference during the 2016 presidential election, but for the past few months, the company seems to be in deep trouble.


Cambridge Analytica: “agreement in principle” reached between Facebook and plaintiffs seeking damages

Facebook changed its name for the first time, becoming Meta on October 28, 2021. In February 2022, the group announced, for the first time in its history, that it had lost users on its original social network, Facebook. The information caused the group’s action to collapse. In one day, the billionaire lost 31 billion dollars, a record. Another first: Meta saw its turnover decrease by 1% for a year in the second quarter of 2022, we learned last July. Meta would also be penalized for investments made in the metaverse, a market in which the group wants to become a leader, Laura Martin, senior internet analyst at Needham & Co, was quoted as saying by Bloomberg. Mark Zuckerberg had also recognized that Meta would lose money in the coming years because of these investments. Finally, the group would seek to reduce its expenses by 10%, pushing some of its employees towards the exit.


Meta would lay off its employees to cut costs

Leave a Comment

Your email address will not be published. Required fields are marked *