What Happened To Mark Zuckerberg Net Worth? Mark Zuckerberg, the co-founder of Facebook, witnessed a nearly $30 billion decline in his net worth as a result of the record-breaking fall in Meta stock.
What Happened To Mark Zuckerberg Net Worth?
According to Forbes, the 37-year-current old’s net worth is $84.3 billion, the first time he hasn’t been one of the world’s top ten richest people since the summer of 2015. Zuckerberg owns approximately 13% of Meta, which rebranded from Facebook lately.
Zuckerberg’s $29.8 billion loss is the second-largest single-day loss in history, after only Elon Musk’s $35 billion loss in November after tweeting about selling 10% of his Tesla stock. According to Bloomberg, Musk’s net worth dropped by $25.8 billion last week.
Meta’s shares dropped after the business warned of weaker-than-expected revenue growth in the next quarter and indicated that Apple’s recent privacy measures will cost the company $10 billion, according to CNBC.
The 26% collapse was Meta’s greatest single-day decrease ever, wiping out more over $200 billion from its market cap, which was also a record.
After Facebook’s initial public offering in 2008, Zuckerberg became a millionaire at the age of 23. As the social network grew in size, because to purchases of Instagram and WhatsApp, so did the founders’ net wealth.
In terms of how Zuckerberg intends to spend his fortune, he intends to give away a sizable portion of it.
In 2015, Zuckerberg and his wife, Priscilla Chan, joined the Giving Pledge, a nonprofit organization formed by Bill Gates and Warren Buffett whose members have promised to donate at least half of their wealth to charitable causes over the course of their lives. The pair has stated that they will donate 99% of their stock.
In addition, Zuckerberg announced in 2020 that he will donate $300 million to safeguard American elections, with $250 million going to the Center for Tech and Civic Life and an extra million going to the Center for Election Innovation & Research.