Mark Zuckerberg's net worth drops by $30 Billion; Not in Top 10 Billionaires list anymore

As a consequence of the record-breaking plunge of Meta shares on Thursday, Facebook co-founder Mark Zuckerberg's net worth plunged sharply. Reports suggest that Zuckerberg's personal net worth plummeted by almost USD 30 billion following the historic selloff in trading. 

Notably, the loss holds more relevance as this is the first time the 37-year-old has dropped out of the top 10 billionaires list since the summer of 2015. His net worth suffered a decline of almost USD 30 billion with a current net worth of USD 84.3 billion, as per Forbes.

Notably, he owns approximately 13% of Meta, formerly known as Facebook. The said collapse in his business is said to have occurred owing to USD 29 billion wipe out from his net worth consequent to his company's share price downfall, as per the entity's latest quarterly report. 

Mark Zuckerberg's net worth plummets; Not in top 10 billionaires list anymore

Experts have commented that the drop of nearly 25% in after-hours trading since the company announced had announced underestimated revenue figures. This further led to a decline in Facebook users for the first time in 18 years. During the fourth quarter, Zuckerberg's USD 29.8 billion worth of Facebook recorded 1.929 billion daily users in an unprecedented loss in the daily active users (DAUs). It was brought to the fore that Meta's Facebook's DAU dropped to 1.929 billion in three months in December, as against 1.930 billion in the previous fiscal quarter. 

BBC has reported that the drop in his personal fortune is equivalent to the annual gross domestic product of Estonia. 

'Facebook's user growth in India slowed due to data price hike': Mark Zuckerberg

As Facebook’s shares plunged by more than 20% on February 2, CEO Mark Zuckerberg said that the global daily active users declined due to skyrocketing data charges in India, according to PTI. Zuckerberg’s Meta traded at the lowest level since July 2020 as it suffered the largest single-day market value drop on Feb. 2. Meta makes most of its revenue from advertising, and Apple made recent changes to its operating system with respect to user privacy, which now gives users more control over the advertisers that depend on track ad performance. 

Meta’s CEO blamed the iOS, macroeconomic challenges, and competitive apps, such as TikTok as he asked his team to work on video-based products. He also blamed pandemic-related supply chain disruptions, and hike in data prices in India as among other reasons that the company lost the most loyal users.