Zuckerberg's Wealth Plunges by $31 Billion After Meta Shock

[Yo_Mama_Been_Loggin]

Source: Bloomberg

(Bloomberg) -- Mark Zuckerberg’s wealth dropped as much as $31 billion, among the biggest one-day drops in wealth ever, after Meta Platforms Inc.’s fourth-quarter results fell short of analysts’ expectations.

Meta is in the midst of a historic stock collapse after its earnings on Wednesday showed no growth in monthly Facebook users last quarter relative to the prior period, raising concerns about the company’s future growth. Shares tumbled 24% at 10:25 a.m. in New York Thursday.

Meta’s steep decline leaves Zuckerberg, the company’s chief executive officer, with a net worth of about $92 billion, down from $120.6 billion as of market close on Wednesday, according to the Bloomberg Billionaires Index. It’s enough to push the 37-year-old outside the list of the Top 10 wealthiest people in the world for the first time since July 2015.

A one-day wealth loss of $31 billion would rank as the second-biggest ever caused by a share-price decline, only rivaled by the volatile swings in Elon Musk’s fortune. The world’s richest person lost $35 billion in a day in November as Tesla Inc. shares fell following a Twitter poll in which Musk asked voters if he should sell 10% of his stake in the company. His net worth also plunged $25.8 billion last week.



Read more: https://www.msn.com/en-us/money/other/zuckerbergs-wealth-plunges-by-dollar31-billion-after-meta-shock/ar-AATpCJB

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[Midnight Writer]

1. Has he got a GoFundMe yet?

[srose58089]

20. hahaha

[wryter2000]

2. Love it

Can we get the rest of his money tomorrow?

[Ocelot II]

3. My heart fucking bleeds.

[JohnSJ]

4. The analysts are saying they are losing younger people to other platforms

[ToxMarz]

9. And older people aren't a long term strategy

especially if they allow dangerous disinformation on the platform

[Orrex]

14. I keep hearing that, but...

FB also maintains an active user base of more than 1/3 of the planet's population.

Any of us waiting to see FB to crumble into obsolescence may be waiting a long time.

[msfiddlestix]

42. Yeppers

fb goes down in my fantasy island dreams.

this $31 billion loss is a mere drop of urine from a pissant in so far as zuckerberg's wealth/fortunes is concerned.

[Alexander Of Assyria]

17. My analysis is ppl r sick and tired of the hate and lies and have finally said enough is enough.

Not to mention the prevalent secret spying, very profitable stuff.

[Cha]

24. My daughter told me that..

she heard it from her daughter.. "Facebook is for older people.."

She's in College and on Instagram.

[lonely bird]

25. Well...

Since Meta owns Instagram…

[JohnSJ]

27. If true, that is not a good for its future growth

[FalloutShelter]

5. Die META Die!!!!!

[BadgerKid]

31. No, it's German for

The META, The!

[Coventina]

36. Nice!!!

[modrepub]

6. Nice to See The M$M So Concerned

So if I have my math right, if Mark buys a gas powered Camaro convertible an hour, he'll be out of money in about 2343 instead of 2443.

I guess on the bright side, we'll be out of oil (from the ground) by then.

[twodogsbarking]

7. That sucks four him but brings joy two sew many.

[LoisB]

8. Trying and failing to muster up some sympathy for him.

nt

[edhopper]

10. META is a scam

to keep investors and keep people on Facebook with the promise of a technology that will not be available for decades.
It is similar to the self-driving cars.
Glad to see people not falling for it.
And yes, FB is becoming a platform just for old fucks like me.

[efhmc]

11. So love it.

[dalton99a]

12. Facebook - It's where the old folks keep their photo albums and funeral announcements

[marybourg]

19. This old folk doesn't.

[dbonds]

13. Doesn't break my heart. Facebook is part of the problem.

They seem to allow all right wing misinformation and allow them any hate speech they want. If you try to respond to any of them you get the ban hammer dropped.

[oldsoftie]

15. Meaningless. Its all a paper loss. Just like when we hear about big gains.

Means nothing if you don't sell.

[bluescribbler]

16. Ain't that a shame?

[GB_RN]

18. Oh...

Boo-fuckin'-hoo.🙄

[Calista241]

21. Couldn't have happened to a nicer dude.

Hopefully it stays down, because I don't know if i can bear to read articles on how Zuckerberg made $50b because the stock went back up.

[caraher]

22. The fact that anyone is capable of losing $31 billion in the first place

just shows how corrupt the whole system is

[Coventina]

37. THIS!!!!!!!

[HotRod Deluxe]

23. AWWW!

Even if zucky was someone I liked, I still wouldn't feel bad.

[lonely bird]

26. Everyone does realize that...

F A G A - Facebook, Apple, Google and Amazon

Is now…

M A G A

I think that might be a sign of the apocalypse.

[IronLionZion]

28. Many of the posts on Facebook are complaints about Facebook

[Vinca]

29. Poor thing. How will he possibly eke out an existence?

[hamsterjill]

30. Did Zuck even notice a mere 31 Billion?

I’m sorry, but having that much to lose (and still have a lot left) is just disgusting for one person.

[Layzeebeaver]

32. better get the poor people to pass around the collection plate.

he needs their money!

[Lettuce Be]

33. And he didn't feel a thing

Such is the life of a billionaire.

[dchill]

34. Seriously, if he LOST 31 billion, where did it go?

Seriously. Is META money real?

[mahatmakanejeeves]

35. Nowhere. It's all in ones and zeros.

His stock options went up; his wealth went up. His stock options went down; his wealth went down.

[dchill]

39. How many stock options does a Starbucks coffee cost?

[mahatmakanejeeves]

40. A stock option and four dollars will get you a cup of coffee at Starbucks. NT

[dchill]

41. Yeah, seems a little steep.

[moose65]

38. Oh noes!! Whatever will he do??

He might be forced to eat second-tier caviar!

He might have to wear the same socks two days in a row!

O the humanity!! 🙄

[Martin68]

43. Well, isn't that a shame.

[Grasswire2]

44. my far-flung family of cousins uses FB to stay in touch, record family history...

....enjoy pictures and memories, and store many old photos. I would hate to lose that. All of us would. And I think maybe I need to start moving all that content off to something else. But I don't know what.

[inthewind21]

45. Good luck

Moving the content of FB. They don't make it easy.