Meta's shares plunged as much as 25% yesterday after the company announced that revenue shrank 4.5% in the last quarter compared to the same quarter last year. As a result, the value of Mark Zuckerberg's wealth decreased another $11 billion.
The value of Zuckerberg's wealth is now only $38.1 billion (~RM179 billion) compared to $142 billion (~RM670 billion) in September 2021. Therefore, he who used to be the third richest person behind Elon Musk and Jeff Bezos is now ranked 23rd according to the latest list Forbes.
Zuckerberg's gamble to change the course of the company from social media to a full-fledged metacity has yet to pay off. After spending billions, Horizon Worlds still doesn't have a high user base with Meta's own staff not really interested in using it.
Tags
BUSINESS & MONEY