Facebook: How many billions did Mark Zuckerberg lose in one day?
He came out of the "golden" dozen of the rich
With a current fortune of $ 84,3 billion, this is the first time the 37-year-old has not been included in the top 10 richest people on the planet since 2015.
Mark Zuckerberg, co-founder of Facebook and one of its major shareholders, saw his fortune plummet by nearly $ 30 billion in a day following a record drop in shares of parent company Meta on Thursday.
With a current fortune of $ 84,3 billion, according to Forbes, this is the first time the 37-year-old has not been included in the 10 richest people on the planet since the summer of 2015.
Zuckerberg owns almost 13% of Meta Platforms, Facebook's parent company.
The $ 29,8 billion write-off of Zuckerberg's fortune is the second largest daily loss in history. It is just over the $ 35 billion lost by the world's richest man, Elon Musk, last November, after he wrote on Twitter that he intended to sell 10% of his stake in Tesla.
Meta shares fell after the company warned of weaker-than-expected revenue growth next quarter and said recent privacy changes by Apple would cost the company $ 10 billion, according to CNBC.
The 26% drop was Meta's biggest one-day plunge and resulted in the loss of more than $ 200 billion in company capitalization. This amount is also a negative historical record.
What has been happening in the company lately?
1) Facebook announced on Wednesday that its profits fell by 8%, or $ 10,29 billion in the last quarter of 2021. The oxymoron in this case is found in the following item: The same announcement states that revenue increased by 20% , or $ 33,67 billion.
2) How is it possible to increase revenue but decrease profits? According to analysts, this incompatibility is due to the costs of the Reality Labs department, ie the department that will "launch" the future of the online world, virtual reality. According to reports, Meta has already invested more than $ 10 billion in this technology and is expected to spend even more funds.
3) Recent privacy changes by Apple make it more difficult for companies like Meta to track people for advertising purposes, which also puts pressure on the company's revenue. In a teleconference with analysts on Wednesday, Meta's chief financial officer said the company was facing $ 10 billion in "deferred consequences" from Apple changes in 2022. Analysts at MoffettNathanson, in a note to customers, described the estimate as "surprising." ».
4) Meta forecast revenue much lower than analysts' expectations for the current quarter, partly due to growing competition from TikTok, the company said, clearly influencing investors.
Exact recruitment and change of orientation
Meta Platforms Inc. intends to implement Mark Zuckerberg's plan to change the landscape on social media, installing a new "world" of virtual reality, as he announced a few months ago. Since then, the company has shifted resources and hired engineers from competitors such as Apple and Google, who can help realize its vision. It expanded its workforce by 23%, closing the year with 71.970 employees, mostly in technical roles, in order to serve the plan and accelerate the transition to the new world that is preparing to present on the internet.
A world where social platforms will not be about publishing personal moments, but creating "private lounges" of discussion, using holograms and new technology, which will soon flood our daily lives.