We told you this morning: Meta’s stock has crashed since the company’s latest update on its quarterly results. However, this fall, Mark Zuckerberg’s fortune continues to melt like snow in the sun. Since the beginning of the year, the “value” of the Meta boss has lost $70 billion. And if prices fall further, it could lose another $10 billion by the close of trading on Thursday. And there is nothing to indicate that the fall will not continue in the coming days.
Mark Zuckerberg’s fortune will lose another 10 billion dollars
According to regulatory filings from August, Mark Zuckerberg owns a 13.6% stake in Meta Class A and more than half of the voting rights. vote. Thus, he is guaranteed a dominant position in the group, and he is very sensitive to fluctuations in the stock market. It’s almost a commonplace joke in Silicon Valley. After seeing their fortunes grow exponentially, great entrepreneurs can lose much, if not almost all, of what they have accumulated almost as quickly due to one ineffective decision or strategic direction. Since the beginning of the year, Meta’s share price has fallen by 61.7% (from $338 to $129.82 at the close of yesterday’s trading). But after the close of trading, Meta’s share price is now just $104.30, raising fears for the worst by Wall Street’s close on Thursday and beyond. In 2021, Mark Zuckerberg’s fortune reached the mark maximum at the level of 134.5 billion dollars. But as of today, in 2022, the entrepreneur’s fortune was only $49.8 billion. A figure that could plummet in the coming weeks. Meta, of course face to a detrimental economic context for GAFAM: between Apple’s new privacy protection rules (which limit ad tracking and targeting, which has increased the value added of campaigns) and the general economic downturn affecting big tech (advertisers offer fewer impressions), the firm already has a huge problem. that needs to be addressed in the short term. But this is above all Mark Zuckerberg’s risky bet on the Metaverse, which is struggling to convince investors and users alike. As the project mobilizes many (too many?) resources, fears build up around the entrepreneur’s strategy. Thus, the fix can be continued by directly attacking the founder of the network. social to the wallet.
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