Mark Zuckerberg Suffers Historic Sell Off as his Personal Net worth Drops.

Mark Zuckerberg Facebook shares suffered a historic sell-off in trading on Thursday, Feb. 3,following a shocking drop in his personal net worth.

Mark’s personal net worth dropped approximately $29.7 billion on Thursday, causing him to fall out of the Top 10 rich list.

According to real-time calculations from Forbes, by the end of trading, Zuckerberg’s on-paper fortune was estimated to be $84.8 billion, thus descending to No. 12 spot on the list of world’s richest individuals.

Meta shares was not left out, as it fell by more than 26% on Thursday to close the day at $237.76 each — wiping off about $232 billion in value. This drop is perceived to be the largest one-day drop in market value of any stock in US history, Dow Jones reported, whilst citing its market data.

Facebook on Wednesday, Feb 2. reported their first ever quarterly decline in its user base in company history.

Facebook reported 1.929 billion daily users in the fourth quarter, down from 1.93 billion users the previous quarter.

Zuckerberg blamed the decline in user activity in part on increased competition from rival platforms such as TikTok.

“People have a lot of choices for how they want to spend their time and apps like TikTok are growing very quickly,” Zuckerberg said during an earnings call on Wednesday afternoon.

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