Gautam Adani, Mukesh Ambani now richer than Zuckerberg as Meta founder loses $30 bn in day

Indian business magnates, Gautam Adani and Mukesh Ambani have surpassed Facebook co-founder Mark Zuckerberg on Forbes' list of real-time billionaires. Zuckerberg's net worth has plummeted as a result of the record-breaking collapse in Meta shares on Thursday, February 3. According to reports, Zuckerberg's personal net worth has dropped by about USD 30 billion as a result of the unprecedented stock market selloff. According to Forbes' real-time billionaire list, Adani's net worth is $90.1 billion, whereas, Ambani's fortune is $90 billion. 

After the wipeout, Zuckerberg has dropped to twelfth place. The rout resulted in the largest single-day market value wipeout for a US corporation, knocking out more than $200 billion. About 12.8% of the tech juggernaut formerly known as Facebook is owned by Zuckerberg. His one-day wealth loss is one of the largest in history, and it follows Tesla Inc CEO Elon Musk's $35 billion single-day paper loss in November last year. 

Zuckerberg slipped out of top 10 billionaires for first time since 2015

Zuckerberg's loss is particularly significant because it is the first time the 37-year-old has slipped out of the top 10 billionaires list since 2015. With a current net worth of USD 84.3 billion, his net worth has dropped by almost $30 billion, as per Forbes. On February 2, when Meta's stock swooped more than 20%, CEO Mark Zuckerberg indicated that the number of global daily active users had decreased due to India's soaring data rates, PTI reported. 

Zuckerberg asks his team to focus more on video-based products

Meta makes the majority of its money from advertising, and Apple has made improvements to its operating system that give users greater influence over the marketers who rely on track ad performance. Zuckerberg blamed the iOS, macroeconomic challenges, and competitor apps like TikTok for his loss. He also asked his team to focus more on video-based products. The Meta's CEO also cited pandemic-related supply chain problems and an increase in data pricing in India as causes for the company's loss of its most loyal users.

(Image: PTI/AP)