Mark Zuckerberg's Meta Witness Plunge In Shares Erasing $251 Billion Market Value

After the recent plunge in stocks of Meta platformers, owner Mr. Mark Zuckerberg lost the title of being the richest man.

On the 3rd of February, the company lost as much as $31 billion in shares, a 26% stock fall, which erased nearly $251 billion in market value.

According to the reports, the biggest ever single-day market value wipeout has pulled down founder and Chief Executive Officer Zuckerberg’s net worth to $85 billion.

As of now, Mr. Mark Zuckerberg owns nearly 12.8% of Meta Inc’s stock, which was formerly known as Facebook. As per reports, the overall stock value of Meta crashed by over 200 billion USD, equivalent to the size of New Zealand’s economy, approximately.

In the fourth quarter, Meta reported a turnover of 33.67 billion$ but made $10.3 billion in net profit, which is about 8% less than last year.

Following the wipeout of profit, Mr. Zuckerberg has now been pushed into the 12th spot on Forbes’ list of real-time billionaires. In addition, Indian business tycoons, Mr. Mukesh Ambani and Mr. Gautam Adani. Gautam Adani is the wealthiest Indian and in 10th spot on Forbes' list, whose net worth is around $90 billion, more than Mark Zuckerberg and others. After Mr. Gautam Adani, Mr. Mukesh Ambani, is the eleventh richest globally, currently with $89 billion.

Amidst the large-scale devaluation of Meta’s market value, Amazon founder and fellow billionaire Mr. Jeff Bezos has added nearly $20 billion to his valuation after Amazon’s increased earnings.

Mr. Bezos owns about 9.9% of the company and is currently the world’s third-richest man with $164 billion.

Tesla Inc CEO Mr. Elon Musk tops the list with $232 billion.