Mark Zuckerberg's Net Worth Has Plunged in 2022

Mark Zuckerberg's , Net Worth Has Plunged in 2022.
So far, Meta CEO Mark Zuckerberg's
net worth has plummeted by
$70 billion dollars in 2022. .
Business Insider reports that the drop
has bumped Zuckerberg down to
the 20th richest person in the world.
According to Bloomberg's Billionaire Index,
Zuckerberg's estimated worth was at
$125 billion at the beginning of 2022. .
Since then, that number has , fallen to $55.3 billion, , a loss of over 55%. .
Forbes now estimates , the Meta CEO's net worth , at $53.4 billion.
The past twelve months have been
tumultuous for Meta, which owns Facebook,
Instagram, WhatsApp and Oculus. .
The past twelve months have been
tumultuous for Meta, which owns Facebook,
Instagram, WhatsApp and Oculus. .
The company announced it would
shift to a 'metaverse' and unveiled
a massive rebrand in October of 2021.
Following the announcement,
Facebook went on to report
its first-ever decline in users.
In the last quarter of 2021,
the social media platform lost
nearly one million daily active users.
In the second quarter,
Meta's net income dropped 36%,
which resulted in a loss of over $3 billion.
This year, Meta has cut down on hiring
amid an economic downturn, which has
sent shockwaves through the tech sector.
According to Reuters,
Meta reduced its hiring target for
engineers in 2022 by nearly a third