Mark Zuckerberg Loses $11 Billion In Just A Day & Over $100 Billion In 13 Months As Meta Shares Bleed

After an ugly day in stock market for Meta on Wednesday, the bloodbath just doesn't seem to be ending for the parent company of Facebook. Its shares further fell 25% yesterday after disappointing Q3 results and a worrisome forecast for this ongoing quarter (Oct-Dec).

Amidst this, Meta CEO Mark Zuckerberg¡¯s fortune plunged by $11 billion in a single day, bringing his total wealth loss to more than $100 billion after hitting its peak just 13 months back.

38 year old Zuckerberg, now has a net worth of $36 billion as per Forbes¡¯ real time billionaires list, and sits on the 29th rank.

Reuters

Even on Bloomberg Billionaire Index, he has similar numbers, with over $11 billion lost in a day, and his net worth around $37 billion, down more than $ 100 billion from a peak of $142 billion in September 2021. While many of the world¡¯s richest people have seen their fortunes tumble this year, Meta¡¯s CEO has seen the single-biggest hit among those on the wealth list.

Meta shares fell nearly 25% to $97.94 on Thursday, pushing the stock to its lowest point since December 2016, as per Forbes report. Meta shares have fallen over 70% this year.

In its third quarter earnings released late Wednesday, Meta had reported a 52% decline in profits, and revenue sliding by 4%. What added to the misery was a weak forecast involving surging costs for the company.

Amidst the bloodbath in Meta¡¯s shares, valuation and Mark Zuckerberg¡¯s net worth, American multinational financial services giant Morgan Stanley yesterday downgraded Meta after its disappointing Q3 results, saying that the higher spending forecast will hurt the stock.

What Zuckerberg Said After Meta's Disappointing Results

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Meta Platforms CEO Mark Zuckerberg has asked investors for patience, despite the social-media giant¡¯s swelling investments in unproven bets at an already-challenging time for digital-advertising companies, as per Bloomberg report.

¡°I think we¡¯re going to resolve each of these things over different periods of time,¡± Zuckerberg said. ¡°And I appreciate the patience and I think that those who are patient and invest with us will end up being rewarded.¡±

Also Read: Meta Raises $10 Billion In Its First Ever Bond Offering

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