Mark Zuckerberg loses over £62 billion net worth as the value of Meta plummets

Mark Zuckerberg's fortune has shrunk by around £62billion this year following his company's shift towards the metaverse.

After being the third richest man in the world two years ago, behind only Jeff Bezos and Bill Gates, Zuckerberg is now the 22nd wealthiest person alive.

That's because the stock value of his company, Meta, has plummeted following its rebrand from Facebook last Autumn.

READ MORE: Mark Zuckerberg's top secret Metaverse headset revealed after being left in hotel room

Zuckerberg's fortune also hasn't been helped by the exodus of users from his social networks. An earnings report in February revealed that Facebook gained no new users for the first time in its history in the previous three months.

That report triggered the first major collapse in Zuckerberg's fortune, when Meta's stock price falling caused him to lose £27billion ($31bn) in a single day.

Zuckerberg receives $1 (87p) from Meta as a salary every year. Instead, almost all of his wealth comes from Meta stock, with him owning more than 350 million shares in the company he founded.

He has previously said he expects Meta's metaverse projects to lose 'significant' amounts of money over the next three to five years.

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The company's top secret metaverse VR headset was actually leaked this month, when it was discovered left behind in a hotel room.

Videos of the Meta Quest Pro headset surfaced on Facebook, which show the headset having three external cameras and futuristic controllers.

The headset appeared a month before Meta's Connect event, when Zuckerberg is expected to announce its new kit for use in the metaverse.

The metaverse is a concept referring to a 3D social internet, combining technologies like VR and augmented reality with social media.


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