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Home Finance, Money

Zuckerberg loses $29bn in net worth

Zuckerberg

The Matters Press by The Matters Press
February 5, 2022
Reading Time: 1 min read
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Zuckerberg loses $29bn in net worth

Mark Zuckerberg has lost $29 billion in net worth on Thursday as Meta Platforms Inc’s (FB.O) stock marked a record one-day plunge,

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His fellow billionaire Jeff Bezos was set to add $20 billion to his personal valuation after Amazon’s blockbuster earnings.

Meta’s stock fell 26%, erasing more than $200 billion in the biggest ever single-day market value wipeout for a U.S. company.

That pulled down founder and Chief Executive Officer Zuckerberg’s net worth to $85 billion, according to Forbes.

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Zuckerberg owns about 12.8% of the tech behemoth formerly known as Facebook.

Bezos, the founder and chairman of e-commerce retailer Amazon, owns about 9.9% of the company, according to Refinitiv data. He is also the world’s third richest man, according to Forbes.

Amazon’s holiday-quarter profit surged, thanks to its investments in electric vehicle company Rivian; and the company said it would hike annual prices of Prime subscriptions in the United States, sending its shares up 15% in extended trading and readying it for its biggest percentage gain since October 2009 on Friday.

Bezos’ net worth rose 57% to $177 billion in 2021 from a year earlier, according to Forbes, largely from Amazon’s boom during the pandemic when people were highly dependent on online shopping.
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