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TikTok sucks over $200 bn out of Zuckerberg Facebook; founder knocked down on Forbes rich list
Following over $200 billion worth of shares sold off in Facebook Thursday, found Mark Zuckerberg has dropped to the 12th position on the list of the world’s richest people.
His worth has thus shed $30 billion.
A poor earnings report released on Wednesday, and the virtual reality ambition Zuck embarks on, which might not turn profit until after 10 years, have been responsible for the fall.
Facebook reported 1.929 billion daily users in the fourth quarter, down from 1.93 billion users the previous quarterMost US users of the social media platform are teeming to Tik Tok now.
Meta shares fell by more than 26 per cent on Thursday to close the day at $237.76 each — wiping off about $232bn in value, which was the largest one-day drop in the market value of any stock in US history, Dow Jones reported, citing its market data.
According to Forbes’ real-time calculations, Zuckerberg’s on-paper fortune was estimated to be $84.8bn, knocking him out of the top 10 among the world’s richest individuals. Forbes now has him at number 12.
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