Mark Zuckerberg falls out of Top 10 rich list after net worth plunges $30B in stock selloff

Mark Zuckerberg falls out of Top 10 rich list after net worth plunges $30B in stock selloff

Mark Zuckerberg’s Facebook shares suffered a historic selloff in trading on Thursday, Feb. 3, causing him to fall out of the Top 10 rich list. The Facebook founder’s personal net worth dropped approximately $29.7 billion on Thursday, according to Forbes’ real-time calculations. By the end of trading, Zuckerberg’s on-paper fortune was estimated to be $84.8 billion. Forbes now has Zuckerberg at No. 12 on the list world’s richest individuals. Meta shares fell by more than 26% on Thursday to close the day at $237.76 each — wiping off about $232 billion in value, which was the largest one-day drop in market value of any stock in US history, Dow Jones reported, citing its market data. The social media giant late Wednesday, Feb 2. reported the first quarterly decline in its user base in company history. Facebook reported 1.929 billion daily users in the fourth quarter, down from 1.93 billion users the previous quarter. Zuckerberg blamed the decline in user activity in part on increased competition from rival platforms such as TikTok. “People have a lot of choices for how they want to spend their time and apps like TikTok are growing very quickly,” Zuckerberg said during an earnings call on Wednesday afternoon.

Idowu Babalola Photo
Idowu Babalola

Socially Not Social. IG & Twitter - @Idbragga

All author posts
Related Posts
Patronize Zahab Aesthetics and beauty spa today!
Patronize Zahab Aesthetics and beauty spa tod...

Zahab Aesthetics and beauty Ltd, is a Medical spa,cosmetic products company and unisex salon located at Zahab building opposite...

COMPLIMENTS OF THE SEASON FROM ALL OF US AT DATJOBLESSBOI TV!!!
COMPLIMENTS OF THE SEASON FROM ALL OF US AT D...

May this Christmas season Brings you nothing but fond memories, Happiness and laughter!!! COMPLIMENTS OF THE SEASON! MERRY CHRISTMAS...

EDUBOX International Relations Officer, Researcher and Lecturer Ahmadu Bello University, Zaria calls on Corporate Organizations to Invest in Public Education
EDUBOX International Relations Officer, Resea...

Vastly, the most jarring issue today is the call of Academic Staff Union of Universities(ASUU) for proper funding of...

Write A Comments