12/11/2022
Why Mark Zuckerberg has lost billions in net worth?
As per Bloomberg, Mark Zuckerberg, the founder of Facebook has seen a $71 Billion drop in his net worth since Jan 01, 2021.
Mark Zuckerberg, who has a whopping $142 billion net worth a year ago has gone down to 20 on the billionaire Index list.
It is the first time since 2015 that Zuckerberg hasn’t been featured in the top 10 list. With his current net worth, he is trailing behind the Walmart Heir Jim Walton, ex-Microsoft CEO Steve Ballmer and Google founders Sergey Brin and Larry Page.
Even though most tech founders have seen a drop in their net worth, there are few other reasons why the shares of Meta have Plunged to 57% since September 3, 2021. Those reasons are as follows:
1. Huge Investment in metaverse: It is being considered as the major reason for the dip in revenue. With the aim of taking over on the Metaverse, Mark Zuckerberg is investing heavily in virtual reality and Metaverse.
2. Apple’s Privacy Policy: In April 2021, Apple came up with an update in its Privacy policy, making it harder for tech companies to track users across apps. This update from apple has impacted Meta’s Ad Sales.
3. Failure of Instagram Reels: After the huge success of the short-video-sharing app, TikTok. Instagram came up with a new feature Insta Reel, Meta’s TikTok Clone. But this feature is still struggling to compete in the market, impacting the sales of Instagram.
Although, Net Worth of Mark Zuckerberg has dropped many times in the last few years but this is not the first time that Zuckerberg is facing a such crisis.
At the time of Facebook’s disappointing IPO, Zuckerberg fell from No. 14 to No.30 on the billionaire Index list but still, but he managed to bounce back in the next year only.
Do you believe, Despite the many controversies and Scandals on Facebook, Mark Zuckerberg will be able to bounce back?
Comment your thought on this!