Mark Zuckerberg: wealth decreased by $ 31 billion in 24 hours

Due to a sharp drop in the shares of Facebook’s parent company Meta, the company’s market cap fell by more than $ 200 billion on Thursday, reducing Mark Zuckerberg’s wealth by more than $ 200 billion. According to a recent report, this is the largest single-day drop in the history of any American corporation. As a result, Facebook founder Mark Zuckerberg’s net worth has dropped by $ 31 billion in the last 24 hours.

The fourth-quarter results of Meta Platforms Inc fell short of analysts’ expectations. Due to the massive drop in shares, Mark Zuckerberg’s wealth dropped by $ 31 billion in just two hours, making it the largest one-day drop in history. On Thursday, Meta’s stock dropped by more than 24%.

The market capitalization has plummeted by more than $200 billion.

The market capitalization of Facebook’s parent company, Meta, has dropped by more than $ 200 billion as a result of the massive drop in its shares. According to a recent report, this is the largest single-day drop in the history of any American corporation. As a result, Facebook founder Mark Zuckerberg’s net worth has dropped by $ 31 billion in the last 24 hours. Zuckerberg’s net worth has now dropped to $ 92 billion as a result of this decline.

Profits fell 8% in the December quarter.

In the December 2021 quarter, Meta’s profit fell 8% to $10.28 billion, down from $11.21 billion the year before. According to Facebook CFO David Wehner, ad revenue could drop by $10 billion this year. As we all know, ad revenue is a huge part of Facebook’s bottom line. It is necessary to track the users’ behaviour in order to earn this money.

The second-largest drop in a single day

The $31 billion loss in one day’s assets is the second largest loss ever caused by a drop in the stock market. Previously, in November 2021, Elon Musk, the world’s richest person, lost $ 35 billion in a single day due to a sharp drop in Tesla Inc’s stock. Musk’s wealth is continuing to dwindle, according to a report, and his net worth dropped by $25.8 billion last week.

Ambani and Adani are putting up a fight.

Mark Zuckerberg’s net worth is now just a little more than India’s richest Mukesh Ambani and second richest Gautam Adani in terms of wealth, thanks to the big drop on Thursday. Let us remind you that Mukesh Ambani, the chairman of Reliance Industries, has a net worth of $ 89.2 billion, while Gautam Adani, the chairman of the Adani Group, has a net worth of $ 87.4 billion.

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