Facebook founder, Mark Zuckerberg has lost a staggering $29.7 billion in a day after his company’s shares fell by more than 26% on Thurdsday.
It was gathered that Facebook shares suffered a historic selloff in trading on Thursday, Feb. 3, causing him to fall out of the Top 10 rich list.
The Facebook founder’s personal net worth dropped approximately $29.7 billion on Thursday, according to Forbes’ real-time calculations.
By the end of trading, Zuckerberg’s on-paper fortune was estimated to be $84.8 billion.
Forbes now has Zuckerberg at No. 12 on the list world’s richest individuals.
Meta shares fell by more than 26% on Thursday to close the day at $237.76 each — wiping off about $232 billion in value, which was the largest one-day drop in market value of any stock in US history, Dow Jones reported, citing its market data.
The social media giant late Wednesday, Feb 2. reported the first quarterly decline in its user base in company history
Facebook reported 1.929 billion daily users in the fourth quarter, down from 1.93 billion users the previous quarter.
Zuckerberg blamed the decline in user activity in part on increased competition from rival platforms such as TikTok.
“People have a lot of choices for how they want to spend their time and apps like TikTok are growing very quickly,” Zuckerberg said during an earnings call on Wednesday afternoon.
A Nigerian man who claims to know the UNIZIK lecturer assaulted by a student has weighed in on the controversy,… Read More
Nedu Wazobia is receiving backlash on social media after a recent comment from Verydarkman. This comes after VDM reacted to… Read More
A Nigerian student has shared troubling information on social media about her classmates damaging her reputation. In a detailed post… Read More
A Nigerian married woman has urged single ladies to thank God for being unmarried, sharing her personal story. In an… Read More
Deeone, is asking to go to court with well-known online activist Verydarkman. Recall that Deeone claimed on Nedu's HonestBunch podcast… Read More
Cardi B, impressed her fans by showcasing the bodycon dress she wore at the Super Bowl. She was styled by… Read More
This website uses cookies.
View Comments
He just tends to make ad accounts tough for business owners or pages, hopefully he sees why he losses a lot as people are slowly leaving Facebook.