Meta Shares Plummet, Zuckerberg No Longer on The List of 10 Rich People in the World

Chinarainbow.org Meta CEO Mark Zuckerberg is one of the top U.S. companies on the list of the 10 richest people in the world, along with the CEOs of other technology companies, such as Elon Musk and Jeff Bezos.

But because Meta’s share price plummeted to more than 25 percent, on Thursday (3/2/2022) Zuckerberg’s wealth also slumped.

According to Forbes, Meta CEO Mark Zuckerberg’s wealth is missing about $30 billion so that when the stock exchange Chinarainbow.org – Meta CEO Mark Zuckerberg is one of the top U.S. companies that are included in the list of the 10 richest people in the world, along with ceOs of other technology companies, such as Elon Musk and Jeff Bezos.

But because Meta’s share price plummeted to more than 25 percent, on Thursday (3/2/2022) Zuckerberg’s wealth also slumped.

Closing on the same day, Zuckerberg’s wealth is estimated to touch 84.8 billion US dollars .

Because, the CEO of Meta has a stake of about 14.2 percent in the company he founded.

Compiled by CiharainbowTekno from Forbes, Thursday (02/10/2022), Zuckerberg is currently in the 14th position of the list of the world’s richest people, with a wealth of about 78.7 billion US dollars.

Priscilla Chan’s husband is below the position of Mexico’s richest man, Carlos Slim Helu and two other richest people, namely Francoise Bettencourt Meyers – a French billionaire and Gautam Adani – an Indian billionaire.

Here is a list of the top 10 richest people in the world by Forbes:

  1. Elon Musk – 239.3 billion US dollars
  2. Bernard Arnault – 194.6 billion US dollars
  3. Jeff Bezos – 187.3 billion US dollars
  4. Bill Gates – 132.6 billion US dollars
  5. Larry Page – 118 billion US dollars
  6. Warren Buffett – 116.1 billion US dollars
  7. Sergey Brin – 113.7 billion US dollars
  8. Larry Ellison – $110.7 billion US dollars
  9. Steve Ballmer – 97 billion US dollars
  10. Mukesh Ambani – 90.7 billion US dollars

Meta shares plunged

The decline in Meta shares came after the company announced its fourth-quarter 2021 earnings report.

The report said the number of daily Facebook users fell for the first time in history. This is a concern for investors because it will affect advertising as a source of company revenue.

According to Facebook, the drop in the number of users is due to increased competition from TikTok.

“People have a lot of options to spend their time with and apps like TikTok are growing very quickly,” Zuckerberg said.

In addition, rising data quota prices in India have also contributed to the shrinking number of active Facebook users. India is the largest market for Facebook.

Meanwhile, another point that concerns investors is the shift of Meta’s focus to augmented reality (AR) and virtual reality (VR), as a basis for building a metaverse to attract young users.

But to realize this goal, it certainly takes a long time and high costs, because it builds a new social network.

In 2021, Meta also poured 10 billion US dollars (Rp 143 trillion) to build the metaverse, thus increasing the amount of company spending. Read more: Zuckerberg a stumbling block to Meta, Facebook’s new name

Software changes in the iPhone (iOS) apparently also affect meta business, because now Meta becomes more difficult to target digital ads to users.

Before the company’s stock plunged, Meta’s CFO David Wehner said Meta was likely to lose more than $10 billion due to the iOS privacy rules, as it had an impact on limited user tracking.

Although the stock plunged more than 25 percent, Meta’s valuation is still in the range of 671 billion US dollars The social media giant also posted a profit of more than 20 billion US dollars in 2021.

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