Meta Platforms (FB) – Download the Meta Platforms Inc. Class A Report CEO Mark Zuckerberg has dropped out of the top ten list of the Bloomberg Billionaires Index after Facebook parent company shares have taken a beating this month.
Game of Names
Zuckerberg, who fell to the unlucky 13th position, had his virtual head handed to him weeks ago. He lost $29.7 billion in net worth, while his company’s market value fell by about $237 billion a day after Meta Platforms reported lower-than-expected fourth-quarter earnings.
Zuckerberg’s overall net worth was estimated to be $78.2 billion, with a loss of $47.3 billion year too far. The corporation has lost $500 billion since changing its name from Facebook in October, according to New York Mag.
And shares fell roughly 2% on Tuesday, closing at $202.08.
Zuckerberg has been barred from the company’s (TSLA) – Get Tesla Inc.’s (TSLA) – Get Tesla Inc.’s (TSLA) – Get Tesla Inc.’s (TSLA) – Get Tesla Inc.’s (TSLA) – Report Amazon’s (AMZN) – Get Amazon.com, Inc. Report, Elon Musk, who ranks first with $220 billion, and Amazon’s (AMZN) – Get Amazon.com, Inc.
Report Jeff Bezos, with a net worth of $177 billion, and Bernard Arnault, chairman and CEO of LVMH (LVMHF) Moet Hennessy – Louis Vuitton SE, with a net worth of $160 billion.
Microsoft Corporation (MSFT) – Get Microsoft Corporation Report Bill Gates finished in fourth with $125 billion, and Google (GOOGL) – Get Alphabet Inc. Class A Report Co-Founder Larry Page came in fifth with $117 billion.
‘There is a lot of potential.’
Meanwhile, Meta Platforms released its short-video product Reels on Tuesday for all global Facebook users.
According to a transcript of the company’s fourth-quarter earnings call, Zuckerberg stated, “Reels is now our fastest-growing content format by far.”
“It’s already the biggest driver to Instagram engagement growth, and it’s expanding very quickly on Facebook as well,” he said.
“We face a rival in TikTok that is a much bigger,” Zuckerberg noted, “so it will take a while to grow and catch up there.”
- Elon Musk Lashes Out at Elizabeth Warren Over Taxes, Saying He’d Go to the IRS “to Say Hello” and Maybe Have a Cookie.
- Biden Considers Prohibiting US Banks From Processing Russian Bank Transactions. Latest News
- The United States Supreme Court Has Rejected a Challenge to Maine’s Covid-19 Vaccine Mandate.
“But basically, you know, we think there’s a lot of opportunity for it to expand further,” he said. And, hey, being kicked out of the billionaire’s Top Ten Club isn’t all that horrible.
At least Zuckerberg isn’t Tang Xiao’ou, the creator of Sense Time, an artificial intelligence startup, and the 500th richest person in the world, with a net worth of $5.48 billion.