Losing nearly 30 billion USD a day, Mark Zuckerberg slipped out of the top 10 richest people in the world for the first time in 7 years

According to Forbes, with a current net worth of $84.3 billion, this is the first time the 37-year-old billionaire has not been among the top 10 richest people in the world since the summer of 2015. Mark Zuckerberg owns nearly 13 % shares Meta, the company just changed its name from Facebook.

Zuckerberg’s $29.8 billion loss is the second-largest single-day drop in wealth in history. This figure is only behind the $ 35 billion that was “evaporated” by the world’s richest billionaire Elon Musk in November 2021 after the announcement of the sale of 10% of his Tesla shares. As reported by Bloomberg, Elon Musk also lost $25.8 billion from his net worth last week.

Shares of Meta plunged after the company forecast weaker-than-expected revenue growth for the next quarter. Meta also said that Apple’s recent privacy changes will cost the company $10 billion.

The stock’s 26% drop was Meta’s biggest drop ever and wiped out more than $200 billion in market capitalization. This is also the largest market capitalization move ever by a US company in a single session.

Regarding his fortune, Mark Zuckerberg intends to give away a large part of his fortune. Zuckerberg and his wife Priscilla Chan joined the Giving Pledge in 2015, the charity founded by Bill Gates and Warren Buffett. Participants will agree to give away at least half of their assets to charitable causes during their lifetime.