Mark Zuckerberg’s fortune has gone down by $11 billion after Meta’s second-straight quarter of losses, lowering his rank to 28 on Bloomberg Billionaires Index.

In 13 months, Meta CEO Zuckerberg has lost more than a $100 billion.

From the peak of $142 billion net worth, Zuckerberg now has a net worth of $37.7 billion.

Mark’s ranking went down by 5 more positions since Wednesday close and he now stands at the 28th position due to a loss of $11.2 billion.

Bloomberg Billionaires Index Report

With the rise of TikTok, Apple’s new privacy changes, and stalling user base growth, Meta is facing a number of challenges. Meta shares are down by an astounding 61% for the year.

At this rate, Meta might slump off the Big Tech playing field.

Previously, Zuckerberg had taken a defensive stand when he was asked if Meta had lived up to his expectations during an investor call.

“We think we’re doing some leading work there, but obviously we need to get that into the product and continue innovating on that. A lot of people might disagree with this investment, but from what I can tell, I think that this is going to be a very important thing,” he said.

Mark also added that his Horizons Worlds metaverse has a long way to go before getting to where it aspires to be.