Mark Zuckerberg’s wealth dropped as much as $31 billion, among the biggest one-day drops in wealth ever, after Meta Platforms Inc.’s fourth-quarter results fell short of analysts’ expectations.
Meta is in the midst of a historic stock collapse after its earnings on Wednesday showed no growth in monthly Facebook users last quarter relative to the prior period, raising concerns about the company’s future growth. Shares tumbled 24% at 10:25 a.m. in New York Thursday.
Meta’s steep decline leaves Zuckerberg, the company’s chief executive officer, with a net worth of about $92 billion, down from $120.6 billion as of market close on Wednesday, according to the Bloomberg Billionaires Index. It’s enough to push the 37-year-old outside the list of the Top 10 wealthiest people in the world for the first time since July 2015.
