Meta collapse: why Zuckerberg lost $71,000 million of his fortune

Meta collapse: why Zuckerberg lost ,000 million of his fortune

in the following month, Zuckerberg feet dead And change the name of the company. From there, it has pretty much descended as it struggles to find its place in the tech world.

His latest earnings reports have been dismal. It began in February, when the company revealed that there was no growth in the number of Facebook users per month, which led to a historic crash in its share price and reduced Zuckerberg’s fortune by an amount $31 billion, among the largest one-day declines in fortunes in history. Other issues include Instagram’s betting on Reels, and its response to .’s short video platform tik tok, Although it accounts for less in advertising revenue, the industry as a whole has been hit by lower marketing spending due to fears of an economic slowdown.

Shares are also drawn through the company’s investments in the metaverse, Laura Martin, Senior Internet Analyst at Needham & Co. Zuckerberg He said he expected the project to lose “significant” amounts of money over the next three to five years.

Meanwhile, Martin said that Meta “should bring back these TikTok users.” This, he said, is also hampered by “excessive regulatory scrutiny and interference”.

The company performed worse in 2022 than most of its peers in FAANG. It’s down 57% this yearAnd the Much more than the 14% declines for Apple Inc. , and 26% for Inc. and 29% for Alphabet Inc. Parent of Google, Meta even closes the gap in 2022 losses with Netflix Inc. , which decreased by 60%.

READ ALSO :   Amazon's latest Echo Dot delivers bigger sound and more useful features

Almost all of Zuckerberg’s fortunes are linked to Meta shares. has more than 350 million sharesAccording to the company’s latest statement.

Zuckerberg tried some kind of rebranding. He recently uploaded a video of himself practicing mixed martial arts and repeatedly referred to himself as a “product designer” in a three-hour conversation on Joe Rogan’s podcast.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

The Latest

To Top