Mark Zuckerberg Has Lost More Than $100 Billion of Personal Wealth in 13 MonthsHis fortune is closely tied to the performance of shares of Meta Platforms, whose stock has lost some 70% of its value since January.
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Happy Meta-versary: It's been one year since元rebranded, and Mark Zuckerberg has lost over $100 billion in just about that time.
The loss, which covers about 13 months (since September 2021) was reported by Bloomberg'sBillionaires Index, which tracks the net worth of people like Zuckerberg, Jeff Bezos, and Bill Gates.
On Wednesday, Metareported quarterly earningsthat missed expectations and clocked in a revenue decline for the second quarter in a row. Reality Labs, aka metaverse division, has lost $9 billion so far in 2022.
From Wednesday to Thursday on the earnings report, the company's stock fell from about $128 a share to $98, a drop of some 24%.
Zuckerberg's wealth has a lot to do with how Meta Platforms is performing — he owns over 350 million shares in the company — his wealth dropped by 11 billion just this week, the outlet noted.
He is now ranked 28 on Bloomberg's index as of Friday morning, down from No. 3 inMay 2020.
Nevertheless, Zuckerberg had clung to his company's billon-dollar-losing pivot to the Metaverse, despite skepticism pouring in from all sides.
A Meta investorwrote on Medium on Mondaythat the company has "drifted into the land of excess — too many people, too many ideas, too little urgency" and should cut employees and limit the amount of money it's pouring into Reality Labs.
The founder of Oculus, who sold the company to Meta in 2014,said Monday the company's metaverseis "not good, it's not fun."
Besides the investor hammering, Meta evencame under meme-fire of late后,看起来像一个劣质的《阿凡达》Zuckerberg in the Horizon Worlds and then revealed legs at its annual virtual reality conference,only to say later it was a projection.
Mark Zuckerberg's avatar at Meta Connect 2022.
The company also reported a user decline in February 2022 for the first time ever. It started the year trading at about $340 a share. As of Friday morning, its price is down about 70% this year.
