READ ALSO:SEE Top 10 Richest Governors In Nigeria (READ FULL DETAILS)
The Billionaire Owner of Facebook, Mark Zuckerberg has had his net worth cut by more than half since this year.
The loss is due to the fall in the share price of Meta, his company which traded at $97.94 per cent on Thursday, October 2022.
The shares of his company, Meta, plunged a day after it reported shambolic dismal quarterly profits.
READ ALSO:Instagram Deactivates Hushpuppi’s Verified Account Two Years After his Arrest
Forbes reported that Meta’s stock price plummeted 25 per cent to $97.94 on Thursday, October 27, 2022, the lowest since December 2026.
Zuckerberg doubled down on the Metaverse Wednesday during an earnings call after the US stock market closed.
According to Zuckerberg, the Metaverse is going to be a significant thing, and it would be a mistake for the company to focus on those areas, which he says would be crucial in the future.
The fall in stock has knocked Zuckerberg from the 25th richest person in the world as of Wednesday, October 26, 2022 to the 29 richest as of Thursday 27th October, 2022.
READ ALSO:Nigerian Man Poses As US-Based Engineer, Dupes Indian Woman Of N9.5m On Pretext Of Marriage
Zuckerberg has had a great year. His company’s stock flew during the pandemic and peaked on September 7, 2021, which shot his fortune to $136.4 billion.
Meta Stock has since lost 74 per cent, and Zuckerberg lost $100 billion, almost three-fourths of his fortune.
READ ALSO:Students Collapse At Jamaican High School During Devotion (SEE VIDEO)
The company also faces a wider pushback amid concerns about the upcoming recession, including advertising troubles.
The company suffers from privacy changes made by Apple last year, which makes it difficult for tech firms to track users across apps, cutting into its ad revenue.
SOJ WORLDWIDE ONLINE NEWS
We are here to keep you abreast with news updates now that the political space in Nigeria is open and gaining momentum daily towards the 2023 general elections.
This is the opportunity you have been waiting for, let your products and services go viral in all our Social Media contacts including, Opera News, Nairaland, Google, Twitter, Facebook, LinkedIn, Instagram, WhatsApp and Telegram across the globe.
Call us or send your message to our WhatsApp on 09069473894 for your advert placement, Press Release, Conference, Interviews, Publicity and awareness to reach your target audience.
Leave a Reply