Mark Zuckerberg’s personal wealth has dropped by A$43.4 billion overnight, as Facebook’s parent company Meta suffers the biggest one-day drop in stock market history.
The stock fell over 26 per cent, wiping out over US$250 billion in value and causing a massive dent in Zuckerberg’s personal jetpack fund.
This historical collapse came after Meta’s fourth-quarter results fell well short of analysts’ expectations, with Facebook showing zero growth in monthly users.
With this, Zuckerberg is left with “only” US$92 billion, according to the Bloomberg Billionaires Index. He finds himself out of the Top 10 wealthiest people list, for the first time since July, 2015.
Considering the numerous legal battles the company is currently fighting, this could mark the beginning of the end.
