Mark Zuckerberg just made $11 billion in a single day

Mark Zuckerberg has taken several spots on the world's richest ladder after making $11 billion in the span of about 24 hours.

@JakConnorTT
Published Fri, Apr 29 2022 2:32 AM CDT   |   Updated Sun, May 22 2022 12:28 AM CDT

Meta, formerly Facebook, recently took a massive hit as its stock price dropped by more than 25%, wiping out more than $230 billion in market value, marking the biggest one-day loss ever by a US company.

Mark Zuckerberg just made $11 billion in a single day 01 | TweakTown.com

The drop in share price came after the company released its fourth-quarter performance results that showcased a decline in daily active users, from 196 million to 195 million. This and other statistics hardly impressed investors. Furthermore, Facebook was suffering from Apple's software change allowed users to opt-in or out for their data to be gathered for advertising. That change crippled Facebook's revenue as it limited advertising, according to Meta.

When $230 billion was wiped out in market value, Meta founder Mark Zuckerberg personally lost about $29 billion, knocking him from his number 9 spot among the world's 10 richest people. Zuckerberg owns 13% of Meta, and according to CNN, Zuckberg's ranked at number 18 on Bloomberg's Billionaire Index with a net worth of $65 billion, and by the end of the Thursday or start of Friday, Meta's stock would have increased by more than 19% in a single day. Making Zuckerberg's stock value rise by $11.5 billion.

Read more: Meta wants to take a nearly 50% cut on all sales within its metaverse

Jak's Top 3 Recommended Articles:

Read more: NASA confirms 1,000+ foot-wide asteroid will approach Earth this April

Read more: 17 solar flares cause Sun blast to hit Earth at nearly 2 million mph

Read more: Ukraine army hits jackpot, captures Russia's most modern equipment

Buy at Amazon

Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future

TodayYesterday7 days ago30 days ago
$14.99$14.99$11.99
* Prices last scanned on 6/30/2022 at 8:25 pm CDT - prices may not be accurate, click links above for the latest price. We may earn an affiliate commission.

Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest science and space news. Jak's love for science, space, and technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.

Newsletter Subscription

Related Tags

Newsletter Subscription
Latest News
View More News
Latest Reviews
View More Reviews
Latest Articles
View More Articles