Meta CEO Mark Zuckerberg dropped out of the list of the “10 richest people in America” for the first time since 2015, due to the decline in his company’s stock prices during the past year.
The 38-year-old founder of the Facebook social networking platform had fallen from third place to 11th place on the Forbes 400 list of the richest Americans, following losing more than half of his $76.8 billion fortune since September of the year. Past.
Mark Zuckerberg’s net worth reached $57.7 billion, following the significant decline in his fortune, due to the decline in the Meta company’s stock.
The technology tycoon had said in October 2021 that his company would invest heavily in developing a part of “Metaverse”, a digital world accessed with augmented and virtual reality devices where people will one day work, shop and follow entertainment activities.
And the company announced earlier this year that its Meta Reality Labs division lost $10 billion last year.
The company, which has seen its share price plunge 38% in the past 6 months, has faced increased government scrutiny on several fronts.
Meta is also suffering from a decline in interest from large segments of its applications, “Instagram” and “Facebook”, with younger users in particular flocking to the Chinese “Tik Tok” and newer applications such as “BeReal” in large numbers.
Zuckerberg became a billionaire in 2008 at the age of 23, and appeared for the first time in the Forbes 400 list at number 321 with a value of $ 1.5 billion.
(Eram News)