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Facebook founder Mark Zuckerberg told staff that he 'may cry because he'd scratched his eye' just hours after his company lost £174 billion in the biggest one-day drop in stock market history.
New figures, released as part of parent company Meta’s latest financial results, show that daily users of Facebook fell to 1.929 billion people in the last three months of 2021, compared with 1.939 billion in the previous quarter.
Meta’s shares fell 22.6% to 249.90 US dollars (£183) in after-hours trading following the announcement and Zuckerberg saw almost £22 billion pounds wiped of his net worth.
Following the news Zuckerberg held a virtual-wide company meeting looking red-eyed and wearing glasses.
A person at the meeting told AdAge that he told staff that if he started to cry it wasn't because of the day's news but a scratched eye.
Mr Zuckerberg admitted the rise of rival apps such as TikTok is having an impact on Facebook, with Meta also warning of slowing revenue growth because of the growing competition and a reduction in spending among advertisers.
“People have a lot of choices for how they want to spend their time and apps like TikTok are growing very quickly,” the Facebook founder said.
Zuckerberg has fallen out of the top 10 richest people in the world as a result, and is now 12th on the rich list.
Luckily he's still got $87.6billion dollars (£64bn) to his name.
Facebook, which includes WhatsApp and Instagram, has proved controversial in recent years.
Not only has it come under fire from multiple governments for its treatment of users' private data, but also how it handles misinformation and conspiracy theories.
Since rebranding to 'Meta' and announcing a shift to the VR 'Metaverse', its fortunes haven't improved much.
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Although he only earns a salary of $1 per year on paper, Zuckerberg made his billions off of selling shares in Facebook, which hit the stock market in 2012.
It was the biggest IPO in history, netting Zuckerberg billions of dollars almost overnight from the company he started at uni.
Unlike other tech billionaires, Zuckerberg isn't known for splashing his cash on space programmes or underground tunnels, and enjoys a quiet family life with his wife Priscilla Chan.
However, he spends a lot of money on property.
- Net Worth
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