Mark Zuckerberg’s Net Worth Drops $18B as Meta Stock Plunges after Earnings Call

In an article published today, it was revealed that Mark Zuckerberg experienced a significant decrease in net worth after comments made by the CEO during Meta’s latest earnings call caused its stock price to plummet. Although Meta surpassed expectations regarding revenue and profit for this period, investors were less than thrilled with their lighter-than-expected forecast concerning future income streams. Zuckerberg acknowledged that they had witnessed considerable volatility in previous instances where the company was investing heavily into new products but failing to monetize them as of yet during the earnings call. Given Meta’s dependence on advertising for almost all its revenue, this has resulted in a fall in stock value by $52.12 per share at close today; translating roughly to an $18 billion decrease in Zuckerberg’s net worth (which currently stands around $152 billion). The 39-year old founder of the company initially established it as Facebook back when he was still a student, later renamed it ‘Meta’ towards the end of last year signaling his intent to concentrate on building up this nonexistent metaverse. Since separating Reality Labs into its own division in financial reports during 2020, Meta has recorded losses amounting to $45 billion cumulatively over these past two years alone. The company is planning to spend between $35 and $40 billion on capital expenditures this year – an increase from their previous estimate. Zuckerberg’s wealth has fluctuated significantly in the recent past, with his net worth dropping by around $100 billion last year; however, it soared triply since he declared Meta would commence a ‘year of efficiency’ back earlier on during 2023. This is not the worst day that Zuckerberg’s financial standing has ever experienced – in early 2022 alone, his net worth plummeted almost $30 billion following poor earnings reports and unfavorable projections from Meta executives regarding future prospects.