Meta founder and CEO Mark Zuckerberg lost $29.8 billion in a day, following the fall in the value of Meta shares on Thursday.
Meta shares fell 26% and lost its market valuation of up to USD 200 billion. As a result, Zuckerberg's wealth also decreased to USD 84.3 billion, according to Forbes data.
After losing nearly USD 30 billion, Zuckerberg is no longer included in the list of the 10 richest people in the world according to Forbes. He is now ranked 12th, behind two Indian businessmen Mukesh Ambani and Gautam Adani.
Zuckerberg's $29.8 billion loss was the second-largest single-day loss in history. In first place is Elon Musk, who lost $35 billion last November after tweeting that he would sell his 10% stake in Tesla.
Musk, who is currently the richest person in the world, also lost $25.8 billion last week, as quoted by CNBC, Friday (4/2/2022).
Meta shares plunged after they forecast weaker earnings growth in the next quarter. The social media giant said changes to its privacy policy on iOS set by Apple could affect their revenue from advertising by up to $10 billion.
Additionally in the Meta financial report for Q4 2021, it was revealed that Facebook's daily active users decreased for the first time. Facebook's daily active users fell slightly from 1.93 billion to 1.929 billion in Q4 2021.
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