On Thursday, Mark Zuckerberg’s net worth decreased by $29 billion when Meta Platforms’ shares fell by 26%, while Amazon’s record results added $20 billion to Jeff Bezos’.
Meta’s shares dropped 26%, wiping off almost $200 billion in value in one day. According to Forbes, creator and CEO Zuckerberg’s net worth dropped to $85 billion.
Zuckerberg controls around 12.8% of Meta, the social media giant, formerly known as Facebook.
According to Refinitiv, Bezos, the business’s founder and chairperson, owns 9.9% of the corporation. Forbes lists him as the world’s third wealthiest man.
With its investments in Rivian, Amazon increased the yearly price of Prime memberships in the US by 15% in extended trading, setting the stage for its greatest percentage rise since October 2009 on Friday.
Amazon’s rise during the epidemic increased Bezos’ net wealth by 57% to $177 billion in 2021, according to Forbes.
Zuckerberg’s one-day wealth loss is the second-largest ever, behind Tesla CEO Elon Musk’s $35 billion loss in November. Musk, the world’s wealthiest man, then asked Twitter people whether he should sell a 10% interest in Tesla. Tesla’s stock has yet to rebound.
After the $29 billion loss, Zuckerberg ranks 12th on Forbes’ list of real-time billionaires, behind Mukesh Ambani and Gautam Adani.
Investors are still struggling to price in the effects of rising inflation and a predicted increase in interest rates. The loss of Zuckerberg’s networth may be temporary.
Before the 2021 tech crash, Zuckerberg sold $4.47 billion in Meta shares. The stock transactions were part of a pre-set 10b5-1 trading strategy, which executives employ to avoid insider trading problems.
