After the collapse of Meta Platforms quotes, Mark Zuckerberg is no longer among the ten richest people in the world. The billionaire's fortune decreased by almost $30 billion in a day.
Meta Platforms co-founder Mark Zuckerberg has lost his place in the top ten richest people in the world according to Forbes magazine. The billionaire fell to 12th place after his fortune fell by 25.93%, or $29.7 billion, in one day. As of February 4, it amounted to $84.8 billion, according to Forbes data.
According to Forbes, Zuckerberg is not among the top 10 billionaires for the first time since the summer of 2015. In terms of the amount of losses that the head of Meta suffered in one day, he is second only to Elon Musk. The richest man in the world lost $35 billion in November last year - after he arranged a survey on Twitter, asking users whether he should sell 10% of his Tesla shares in order to pay taxes.
According to the Bloomberg Billionaires Index, the head of Meta Platforms is now ranked tenth in the list of the richest people in the world, his fortune is estimated by Bloomberg experts at $89.6 billion - after losing $31 billion in a day. According to Forbes, the tenth place in the list is the head of Adani Group Gautam Adani, who owns $90.1 billion.
Mark Zuckerberg owns almost 13% of Meta Platforms. The company faced a collapse in quotations of historical scale: During trading on February 3, its quotes lost 26.39%, dropping to $237.76 per share. The market capitalization decreased by $ 232 billion, according to the New York Post.
Meta shares fell 26%. This is the largest collapse in the US corporate market
Facebook , Social Networks , USA
The sale of Meta Platrforms shares began after the publication of results for the fourth quarter and forecasts for the beginning of 2022. Revenue increased by 20%, to $33.67 billion, and moderately exceeded forecasts of $33.4 billion. Earnings per share fell by 5% to $3.67 against the $3.84 expected by the Refinitiv consensus. Growth in the number of new users also slowed.
In its forecast for the first quarter of 2022, Meta Platrforms said that revenue would grow at a record low rate and amount to $27-29 billion, although analysts expected more than $30 billion. Mark Zuckerberg announced increased competition in the segment of short video Reels, which are an analogue of TikTok. According to Zuckerberg, Reels are monetized worse than other Meta—feed and story formats, which will reduce advertising revenue in the near future. Inflation and supply chain problems are forcing advertising budgets to be cut. Dave Wehner, CFO of Meta Platrforms, said that Apple's new policy on collecting user data will cost the company $10 billion.
The company also reported that the Reality Labs division, which invests in the metaverse and virtual reality, suffered operating losses of $3.3 billion.
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