founder and CEO Mark Zuckerberg lost over $29 billion in net worth after a
steep fall in shares of Meta, the parent company of the social media giant.

Also Read: Whatsapp CEO Will Cathcart hints at an app for iPad

suffered its biggest one-day fall ever on Thursday as its share fell 26 % and
its market value fell by more than $230 billion. The fall in share value came a
day after the company reported dismal turnover on Wednesday when Zuckerberg
laid out how the company was navigating a tricky transition from social
networking toward the so-called virtual world of the metaverse.

this steep fall, Zuckerberg’s net worth has also declined to $84.8 billion, putting him below Indian industrialists Gautam Adani and Mukesh Ambani, according to
real-time data by Forbes.

Also Read: Explained: How Metaverse and NFTs affect agencies

owns about 12.8 % of the share of Meta and this one-day crash in his
wealth is among the biggest ever and comes after Tesla Inc’s boss Elon Musk’s
$35 billion single-day paper loss in November, according to a report by

year, Zuckerberg sold $4.47 billion worth of Meta shares, before 2021’s tech
rout. The stock sales were carried out as part of a pre-set 10b5-1 trading
plan, which executives use to allay concerns about insider trading.

Also Read: Google CEO Sundar Pichai and Facebook, Meta CEO Mark Zuckerberg manipulated online ads: Lawsuit

to Forbes’ data, Gautam Adani and family presently stands at the 10th spot of
the world’s richest list with a net worth of $90.8 billion while Mukesh Ambani
is ranked at 11th spot with a net worth of $89.2 billion.

Also Read: Apple announces huge bonus for engineers to stop them from joining Meta

list is headed by Tesla and SpaceX CEO Elon Musk who has a net worth of $232.3
billion, ahead of French billionaire Bernard Arnault and family, who own luxury
brand LVMH, whose net worth stands at $190.5 billion, according to Forbes.
Amazon’s Jeff Bezos’ is placed in the third spot with his net worth currently
at $164.8 billion.