Mark Zuckerberg’s net worth fell by $11.2 billion on Thursday

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New Delhi: Shares of Facebook’s parent company Meta Platforms fell nearly 24 percent on Thursday. The company’s earnings did not meet expectations. Also, the company says that its digital advertising business is not doing well, due to which sales are likely to decline in the coming days as well. Due to the fall in shares, the net worth of the company’s CEO Mark Zuckerberg also fell by $11.2 billion or Rs 92,355 crore on Thursday. His net worth fell by $87.8 billion this year. This is more than Mukesh Ambani’s net worth of Reliance Industries. According to the Bloomberg Billionaires Index, Ambani’s net worth is $84 billion. With this fall, Zuckerberg has moved from 23rd to 28th on the world’s richest list.

Facebook’s revenue has fallen for the third quarter in a row. The company’s Metaverse-linked unit also faced billions of dollars in losses. It lost $9 billion this year and $20 billion by 2021. The company’s fourth-quarter revenue is also expected to be between $30 and $32.5 billion, which is lower than analysts’ expectations. Thursday’s decline reduced Meta’s market value by $80 billion. Meta shares fell 67 percent in one year. The company’s market cap fell by $700 billion during this period. The company had a market cap of $1 trillion in September last year, which is now $268 billion. As a result, Zuckerberg’s wealth also decreased significantly. Zuckerberg, once the third richest person in the world, has now dropped to number 28. His wealth has fallen the most this year. Meta was also dropped from the list of the top 20 companies in America.

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Jeff Bezos’ wealth has also declined
Other technology stocks also fell significantly on Thursday. Amazon shares also fell more than four percent. As a result, company founder Jeff Bezos’ net worth fell by $4.68 billion to $134 billion. Earlier on Wednesday, his wealth also fell and he dropped to number three on the richest list. His net worth fell by $58.4 billion this year. Second-place Bernard Arnault’s wealth also fell by $2.99 ​​billion on Thursday. His net worth is now $142 billion. Tesla CEO Elon Musk is number one with a net worth of $212 billion.

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Ambani and Adani
Meanwhile, India’s and Asia’s richest man Gautam Adani’s net worth rose by $2.95 billion to $125 billion on Thursday. Adani’s total assets rose to $48.7 billion this year. He is the highest earning rich man this year. Meanwhile, Mukesh Ambani, the chairman of Reliance Industries, the country’s most valuable company, has come to number nine in the list of rich people. On Thursday, his net worth increased by $567 million to $84 billion.

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