Mark Zuckerberg Meta CEO, is reportedly no longer one of America’s top ten richest men for the first time since 2015, due to his company’s wavering stock price and drop in value over the last year.
Mark 38-year-old Facebook founder is said to have lost more than half his fortune [ $76.8 billion] – since September 2021, which led him to drop from number three to number 11 on the Forbes 400 list of America’s wealthiest people, according to Forbes report.
As at Tuesday, September 27, his net worth stands at $57.7 billion.
ICYMI – In October 2021, Facebook officially became Meta.
During the company’s earning call earlier this year, the Meta’s Reality Labs division is said to have lost $10 billion last year, and has seen its stock price drop 38 percent in the last 6months, coupled with being faced with increased government scrutiny on many fronts including an FTC antitrust investigation of Zuckerberg’s company.
Meta’s Instagram and Facebook is also losing its middle aged and teenage customers to TikTok. Facebook reported its first ever quarterly loss of daily active users in February.
Check out the names of Top 5 billionaires currently topping the new Forbes 400 list,
- Elon Musk, worth $251 billion [reigns supreme],
- Amazon founder Jeff Bezos, $151 billion
- Microsoft founder Bill Gates, $106 billion
- Software mogul Larry Ellison $101 million,
- Investor Warren Buffet at $97 billion.
Alphabet co-founders Larry Page and Sergey Brin, who also saw their net worth drop, take the fourth and fifth spots. Ex-Microsoft CEO Steve Balmer sits at number eight with a worth of $83 billion.
Other than Musk, the only other person in the top ten to see their fortune increase is Michael Bloomberg.
Jim Walton, the youngest son of Walmart founder Sam Walton, rounds out the top ten with a worth of $57.9 billion.
Zuckerberg became a billionaire in 2008 at the age of 23. He debuted on the Forbes 400 list at number 321 with a worth of $1.5 billion.