Mark Zuckerberg’s net worth plummets to £31bn thanks to ‘train wreck’ metaverse

  • Bookmark
  • We have more newsletters

    Mark Zuckerberg might have to queue for the Black Friday sales like everyone else this year, as his net worth has taken another major hit.

    His company Meta Platforms, formerly Facebook, has seen its stock prices drop to their lowest level in four years after a 24% tumble yesterday.

    Meta shares are now worth 67% less than they were a year ago, meaning they have dropped from over $1 trillion (£866bn) to $268 billion (£232bn).

    READ NEXT: Inside Mark Zuckerberg's billionaire wealth and how he lives on a $1 annual salary

    With Mark Zuckerberg owning 13.5% of the stock in Meta, it means his own net worth has taken a further hit following a £17billion drop in February.

    The social media company has struggled to retain its value ever since Zuckerberg announced it was rebranding from 'Facebook' to 'Meta' in order to focus on the so-called metaverse.

    The company is reportedly struggling to raise money through digital advertising on Facebook due to a wider downturn in the economy, while losing billions on its virtual reality tech.

    Its platforms including Facebook and Instagram are also losing users as platforms like TikTok boom in popularity with younger audiences.

    • Fans go wild for 'insane' Modern Warfare II graphics that look like real life

    Mark Zuckerberg reportedly only takes $1 per year in salary, with all of his wealth being wrapped up in Meta stock.

    He's by no means the richest billionaire in Silicon Valley, but definitely does alright for himself, choosing to spend his cash on a 1,600-acre Hawaii ranch which has been criticised by locals as an expensive landgrab.

    Zuckerberg reportedly also spends around £7.4bn on private jets every year through Meta. So, even if he has lost some serious cash this year, don't worry: he's still doing much, much better than you or I. 


    • Classic Mario Party launching on Switch for all-round multiplayer fun
    • McDonalds sued for £805million by ice cream hackers who tried to fix McFlurry machine
    • Killer autonomous robot army deployed by major NATO country in terrifying world first
    • 'End of an era' as iconic millennial games site Miniclip closes down for good
    • Inside Russia's secret nuclear 'ghost train' that could have destroyed the world
    • Facebook
    • Net Worth
    • Mark Zuckerberg

    Source: Read Full Article