After all, Facebook left the top 10 most valuable companies in the world, Mark Zuckerberg left the list of 10 richest billionaires on the planet.

After a series of scandals, Meta shares (Facebook’s parent company) have continuously plummeted during the past 2 weeks. This caused the capitalization of the Big Tech giant to plummet and evaporate a record of more than 200 billion USD.

Thus, according to data from Bloomberg, with a market value of only 565 billion USD, Meta officially left the top 10 most valuable companies in the world. The group is currently ranked only 11th, behind China’s Tencent Holdings. Last year, Meta held the 6th position in the rankings with a market capitalization of more than 1 trillion USD.

Thus, the value of Meta has evaporated half of its peak in September 2021. The drop in capitalization alone is larger than that of nearly all the companies in the S&P 500 index.

Not only that, the stock plunge also made the Facebook boss officially leave the top 10 richest people in the world according to the Bloomberg Billionaires Index, for the first time since July 2015.

Meta officially left the top 10 most valuable companies in the world.

Earlier, earlier this month, Mark Zuckerberg also witnessed a record personal wealth decline of up to $ 24 billion a day. The figure is only $35 billion less than Elon Musk’s evaporating fortune in November 2021 when the billionaire consulted Tesla shareholders about selling 10% of the shares.

Last year, Mark Zuckerberg decided to change Facebook’s name to Meta Platforms to match the company’s new strategy. This CEO believes that the potential of the metaverse (virtual universe) will create many breakthroughs, helping the company reverse the situation like the previous mobile-first strategy.

However, after a series of accusations surrounding user data breaches, Meta’s ambitions were more or less affected. Even experts have criticized Facebook’s metaverse vision for being too broad and not having a clear focus on profitability. This is in stark contrast to Microsoft’s virtual universe project when this corporation only focuses on strengths as the foundation for businesses.

In addition, the disappointing revenue numbers also add to the pressure on Meta in the context that this technology company is facing a series of scandals about legal regulations, as well as trying to justify the change. change your strategy.

The Facebook boss officially left the top 10 richest people in the world according to the Bloomberg Billionaires Index, for the first time since July 2015.

In February, the “population” of the largest social network on the planet dropped by about 1 million accounts for the first time in just one quarter. According to NBC, there are many reasons for this problem, such as young people leaving Facebook to follow rival platforms like Tiktok. Before, Facebook had many strengths in connecting friends and relatives, but now, other social networking sites have also done that. Not to mention, Facebook itself also makes a lot of mistakes in terms of protecting user data and providing false and uncensored information.

According to data from Bloomberg, the replacement for Meta in the 6th largest market capitalization in the world is electric car company Tesla, with $ 906 billion. The most valuable company in the world is still Apple with $2.8 trillion. Software giant Microsoft and state-owned oil company Saudi Arabia Aramco ranked second and third, respectively.