According to the Bloomberg Billionaires Index, the wealth of Meta Chief Executive Officer Mark Zuckerberg has come down to $ 92 billion (about Rs 6,87,900 crore) due to the huge fall, which is 120.6 billion (about Rs 9,01,600 crore) at the time of closing of the market on Wednesday. crore) was Rs. Such a drop in wealth is enough to drop 37-year-old Zuckerberg from the list of the world’s top-10 richest people for the first time since July 2015.
The loss of property worth $ 31 billion (about Rs 2,31,600 crore) due to the fall in stocks is the second biggest loss in a single day. In November, an even bigger loss was caused to one of the world’s richest people, Elon Musk. He had lost assets worth $ 35 billion (about Rs 2,61,700 crore) in one day. All this happened after a Twitter poll in which Musk asked people whether he should sell his 10 percent stake in the company.
Meta co-founders are also facing an unprecedented drop in their personal wealth. Dustin Moskovitz, the 79th richest person in the world, has a loss of nearly $3 billion with a net worth of $21.2 billion (about Rs 1,58,500 crore) as of Wednesday. Eduardo Saverin has suffered a loss of $ 4 billion (about Rs 29,900 crore). His net worth is $17.5 billion.
According to data compiled by Bloomberg, Meta’s chief operating officer Sheryl Sandberg’s personal wealth of $2.5 billion (about Rs 18,700 crore) has declined by more than $100 million (about Rs 750 crore). However, Sandberg’s assets are less concentrated in the company’s stocks than Zuckerberg’s.
This drop in Meta’s earnings adds to its challenges. The company is fighting several regulatory battles. The company is also trying to justify changing its name to META. Meanwhile, platforms like Tiktok and YouTube are trying to gain ground among young users.