Mark Zuckerberg’s net worth has seen a historic plunge as it drops down to 92 billion dollars, which is 31 billion dollars less than his previous net worth of 120.6 billion dollars, according to the Bloomberg Billionaires Index.
Mark Zuckerberg No Longer Among Top Ten Richest Lists
After July 2015, this is a shocking plummet and has consequently resulted in cutting out the Facebook CEO from the list of the top ten wealthiest people. 31 billion dollars is a massive sum of money and this constitutes the second-biggest loss caused by a decline in share prices.
Elon Musk tops the list as Tesla shares dropped following a Twitter poll leaving Musk with a loss of 35 billion dollars. Whew! Cannot imagine what being a billionaire feels like but all these uncertainties would surely take a few years from my life expectancy! The stress is undoubtedly astronomical but as it’s said with more power there come more consequences.
I guess these Big Tech guys know what they are up against. Or maybe they don’t. Who knows. Just last week Elon Musk’s net worth took another major blow as it fell 24.8 billion dollars.
Metaverse: the Reality Behind Bringing People Together
Well moving on! Meta was Mark Zuckerberg’s exciting venture to bring virtual reality to the masses in the form of a metaverse. The heightened promises from Mark’s video fuelled people’s expectations as he lured them into a virtual adventure.
Seemingly too bizarre to become a reality, Meta was heavily criticized for the idea to bring people together in this unconventional manner. With technological advancements getting fancier by the day, the essence of human existence seems to have been lost as smartphones and social media take up a major chunk of our time and day.
Are we connecting or drifting further away from the ones who are close to us. One can argue that these apps have taken away the opportunity to be in the moment and made life all about other unnecessary shenanigans. Well, maybe Zuckerberg’s plan for Meta wasn’t very well versed or rather properly executed. No, I’m not just saying that.
Analysts have found Meta’s performance in the fourth quarter to be rather subpar which has raised questions about the prospects of the company. This is a challenging time for the Facebook CEO, as his strategy to bring the platform in a new light to escape the scandalous revelations isn’t proving to be effective.
With this major plunge, the company’s foreseeable future looks rather dim. Let’s see what tricks Zuckerberg has up the sleeves that could turn around the game for him. It’s not a great time for the company with tumbles one after the other but it’ll be a bit of a stretch to say it’s over for the social media giant.
Facebook has seeped into our lives and the internet and it’ll take more than just some decline in shares to bring the Company to an end. That’s all we know. Stay tuned for more!