The year 2022 has not been very good with Meta, the parent company of Facebook, and thus has hit its CEO and co-founder, mark zuckerberg.
According to the millionaires index Bloomberg, Zuckerberg has lost 55% of his fortune this year. That is, since the beginning of 2022 the businessman has reduced his personal fortune by 71 billion dollars.
Zuckerberg has dropped 14 places in the media’s millionaires index, dropping from third place to 20th in just a few months. As of May 2020, the young entrepreneur had a net worth of $87.8 billion. According to Bloombergin September 2021 Mark Zuckerberg had 142 billion. Now, he “barely” has $55.3 billion.
Why is Mark Zuckerberg losing so much money?
2022 has hit the fortunes of several “ultra-rich” tech entrepreneurs. For example, Elon Musk’s net worth has dropped by $6 billion; Bill and Melinda Gates lost $27 billion and $26 billion, respectively, and Jeff Bezos lost $46 billion.
But Zuckerberg’s losses are among the most important. In accordance with Bloomberg, The fortune of the Facebook businessman is strongly tied to the performance of Meta.
And it has not been a good year for the company. Some reasons for the bad 2022 of the company have been:
- Many investors have been skeptical of the company’s pivot into the Metaverse. In January, Meta shares were trading at $338; today they are at $148 a share, a decrease of 56 percent. Zuckerberg changed his company name to Meta Platforms in November 2021.
- In February, Facebook reported that it lost users for the first time in its history and that day alone Zuckerberg lost 31 billion.
- The lack of attraction of Facebook with Generation Zwho prefer other social media platforms like TikTok and Be.Real.
- Failed attempts to replicate the short video format of TikTok on Instagram and Facebook that have annoyed users.
Editorial Team The editorial team of EMPRENDEDOR.com, which for more than 27 years has worked to promote entrepreneurship.