The bigger they are, the harder they fall…
Mark Zuckerberg looks to be experiencing something of a death knell, with his net worth taking substantial and sustained losses.
In 2021, Zuckerberg’s personal wealth reached a whopping $142 billion and Facebook’s stock was trading at $382…
Today his net worth is down to roughly 55 billion dollars and Facebook is trading at roughly $150.
Facebook, which has since been transformed into Meta, is not seeing any new users onboarded onto the ailing platform and the basket that Zuckerberg has placed all the eggs into doesn’t show much promise either.
The company’s new plans are geared towards the metaverse—an online, interactive world that blends elements of augmented reality, virtual reality, and real life.
Several notable contenders currently exist in the space, with a focus on blockchain technology and user-owned digital property.
While I am somewhat familiar with the space, I don’t have any social media accounts—save Twitter (for writing all these wonderful posts and articles), but people my age are not so big on Facebook.
Instagram, on the other hand, is booming and while that is also owned by Facebook, growing concerns over mental health and the simple passage of time will likely drive users away from that platform as well…
After all, every sun must set—what is popular or indispensable today is tomorrow’s kindling.
This is what has driven Zuckerberg to seek solace in big metaverse plans—plans that don’t seem to be going anywhere.
A cursory glance at any metaverse-related news shows that people are primarily concerned with decentralization and digital finance within the space—two things that Facebook just isn’t known for.
Even the branding has failed miserably, how many times have I referred to it as Facebook in this article, rather than Meta? How many headlines do you see that still use Facebook in lieu of Meta?
All in all, the future doesn’t look too bright for Zuckerberg or his business entities.
Here’s more on the story:
Wait? Facebook isn’t called Facebook anymore🤷♀️
— Kc for freedom 🦅🇺🇸 (@kimberlee_kc) September 22, 2022
If you think you're having a bad month, Mark Zuckerberg's net worth has decreased by $27 Billion since he posted this picture. pic.twitter.com/QApDz9YYGb
— Chris Bakke (@ChrisJBakke) September 19, 2022
Bloomberg provided these numbers:
His fortune has been cut in half and then some, dropping by $71 billion so far this year, the most among the ultra-rich tracked by the Bloomberg Billionaires Index.
At $55.9 billion, his net worth ranks 20th among global billionaires, his lowest spot since 2014 and behind three Waltons and two members of the Koch family.
Mark Zuckerberg's net worth fell by $70.2 billion this year.
— Watcher.Guru (@WatcherGuru) September 20, 2022
NEW: This is how much billionaire's lost in Tuesday's stock market crash:
– Jeff Bezos’ wealth plunged by $9.8 billion
– Elon Musk net worth dropped by $8.4B
– Mark Zuckerberg wealth declined more than $4B
– Warren Buffett lost $3.4B
– Bill Gates' $2.8BSource: Bloomberg pic.twitter.com/EQKaYn67oD
— Insider Paper (@TheInsiderPaper) September 14, 2022
Western Journal cites some of the reasons for the collapse of Facebook:
Things began to unravel after that, beginning in February when Meta said Facebook stopped adding users.
That triggered a stock price collapse and Zuckerberg’s net worth dropped by $31 billion, said to be one of the biggest single-day evaporations of wealth.
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