Mark Zuckerberg’s Net Worth Declined More than $71 Billion in 2022

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Mark Zuckerberg, CEO of Meta, formerly Facebook, has had his fortune plummet by more than 50% this year: in 2020, his fortune was valued at $87 billion, it rose to $142 billion in 2021 when he was listed as the 3rd wealthiest person in the world, but currently his wealth is estimated $55 billion in 2022. Meta’s stock, which holds the bulk of his fortune, has also lost about 60% of its value in the same time frame. Media reports that his company has had stagnant user growth due to stiff competition from rival social media platforms such as TikTok. Recently, Meta reported the first quarterly revenue decline in its history due to global economic slowdown and a struggling ad sales division. The company began its downward spiral shortly after Zuckerberg announced that Facebook would rebrand itself as Meta and shift its focus toward the metaverse, which flopped. The expensive initiative cost Meta $10 billion in investments last year alone and was widely panned by the public.

The net worth of Meta CEO Mark Zuckerberg, once the third richest person on the planet, plummeted by more than 50% this year, knocking him down tot he 20th spot n Forbes’ list of the world’s wealthiest.

Zuckerberg was worth a whopping $142 billion in September 2021, just one month before he introduced Meta and changed the company’s name from Facebook Inc. In the months since, things have gone down hill for the tech titan, whose net worth stood at around $55 billion Wednesday morning, according to the Bloomberg Billionaires Index.

Zuckerberg has seen his value decline by more than $71 billion in 2022 alone. Meta’s stock, which holds the bulk of his fortune, has also lost about 60% of its value in the same timeframe.

In February, just months after the Meta rebrand, Zuckerberg revealed Facebook’s numbers declined for the first time in its history. It triggered a historic collapse in its stock price, which was mirrored in the billionaire’s personal value as well. In just one day alone, Zuckerberg saw his net worth drop an estimated $31 billion, one of the largest one-day declines in wealth ever recorded.

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Jill
Jill
2 months ago

I wonder if part of Zuckerberg’s fortune is declining because of Trump’s Executive Order # 13848 Imposing Certain Sanctions in the Event of Foreign Interference in a United States Election.