Mark Zuckerberg, Elon Musk’s Wealth Declines, as Billionaires Suffer N367 Billion Loss
Facebook founder Mark Zuckerberg lost -0.74% of his net worth on Tuesday, after Meta Platform, formerly known as Facebook Inc., fell in value after-hours trading in the capital market .
Zuckerberg lost 215.48 billion naira ($519 million) in one day, dropping his fortune to $69.4 billion. The loss, however, was not enough to knock him out of the top 15 richest people in the world, according to Forbes Billionaire Index.
The billionaire’s fortune has been on a downward trajectory since his net worth surpassed the $100 billion mark in the second half of 2021. At the start of October last year, he was worth $121.6 billion and held the fifth position among the billionaires.
However, with Meta Platform’s market value down -43.5% over the past nine months, from $343.1 per share to $193.64 per share, Zuckerberg has plummeted from the top 10 ranking. billionaires in 15th place as his company battles antitrust cases and allegations. not to curb disinformation.
Also read: Elon Musk overtakes Mark Zuckerberg on list of five social media billionaires
Zuckerberg currently owns around 12% of the company’s stock. Note that Zuckerberg is not the only billionaire to lose his fortune, because the richest man in the world, Elon Musk, is also counting his losses.
Musk’s wealth fell -0.16% to $229.7 billion on Tuesday, after losing 151.5 billion naira ($365 million) due to Tesla’s stock depreciation of – 0.18% after hours trading.
The decline in his net worth began shortly after his wealth hit $315 billion in November 2021. However, despite the fall, Musk retained the top spot on the list of the richest people.
Join the conversation
Support Ripples Nigeria, Support Solutions Journalism
Balanced and fearless journalism, driven by data, has huge financial costs.
As a media platform, we hold leaders accountable and we will not trade the right to freedom of the press and freedom of expression for a piece of cake.
If you like what we do and are willing to support solutions journalism, please donate to the Nigeria Ripples cause.
Your support would help ensure that citizens and institutions continue to have free access to credible and reliable information for the development of society.