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Mark Zuckerberg’s fortune has been cut in half as the Meta chief loses $71 BILLION this year after switching to Metaverse: Share price plummets 57% in a year
- Zuckerberg, 38, was worth $142 billion in September 2021, but his fortune has fallen dramatically and is now worth just $56 billion
- His net worth has fallen by more than any other billionaire, Bloomberg reported, and Zuckerberg was in the lowest billionaire ranking since 2014
- His fortune peaked in September 2021 and a month later he launched Meta, as the parent company for Facebook, Instagram and WhatsApp
- Meta grapples with censorship questions and ad revenue decline, plus challenges from new platforms like TikTok
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Mark Zuckerberg’s net worth has plummeted by $71 billion this year — more than any other billionaire tracked by Bloomberg’s ratings.
Zuckerberg, 38, was worth $142 billion in September 2021. On Tuesday, he was only worth $56 billion, Bloomberg reported.
The economic headwind has left Zuckerberg ranked 20th among global billionaires — his lowest position since 2014.
Zuckerberg was placed under three Waltons and two members of the Koch family.
The New York-born billionaire has seen his fortunes steadily slipping since he founded Meta, the parent company of Facebook, in October 2021.
Mark Zuckerberg, 38, can be seen on September 15 in Los Angeles. The Facebook founder has seen his net worth fall by more than half
Zuckerberg was accompanied by his wife, Priscilla Chan, on their LA trip
Zuckerberg was worth $142 billion in September 2021. On Tuesday, he was worth only $56 billion
The share price of Meta, Facebook’s parent company, has fallen by 30 percent in the past six months (pictured)
Zuckerberg himself has come under heavy scrutiny for his content policies – first during the 2016 election, with the Cambridge Analytica scandal, and then with battles over censorship and content control.
He has been called to testify before Congress, with Republicans accusing him of censorship and Democrats saying he hasn’t done enough.
In February, Meta revealed no growth in monthly Facebook users, leading to a historic stock price collapse and a US$31 billion fortune for Zuckerberg — one of the largest single-day wealth declines ever.
Zuckerberg’s fortune has fallen more than any other billionaire Bloomberg tracks
Meta’s value has fallen more than 56 percent this year
Meta has recently faced controversy over her plan to promote Reels – short videos – on Instagram, which it owns.
And the tech industry as a whole faces challenges as advertisers rethink spending amid a looming recession.
Meta is underperforming its competitors, Bloomberg reported — down 57 percent this year, compared to 14 percent for Apple, 26 percent for Amazon and 29 percent for Google’s parent company Alphabet.
Almost all of Zuckerberg’s wealth is tied up in Meta stocks.
According to the company’s latest proxy statement, he owns more than 350 million shares.