That’ll Leave a Mark: Zuckerberg’s Net Worth Falls $30 Billion in One Day on Historic Facebook Plunge

Facebook CEO Mark Zuckerberg suffered a plunge in net worth of almost $30 billion in one day following a poor earnings report this week. The 26 percent drop in Facebook’s share price represents a historic one-day loss of market value.

CNBC reports that Facebook co-founder Mark Zuckerberg’s net worth decreased by almost $30 billion this week following a record drop in Facebook’s market value. Zuckerberg has a current net worth of $84.3 billion, according to Forbes. For the first time since 2015, Zuckerberg is not one of the ten richest people on Earth.

Zuckerberg lost $29.8 billion on Thursday, marking the second-largest single-day loss in history. The largest single-day loss was that of Elon Musk who lost $35 billion in November after tweeting about selling 10 percent of his stake in Tesla. Musk’s net worth also decreased by $25.8 billion last week.

Facebook stock dropped by 26 percent on Thursday, wiping at least $232 billion in market value from the Masters of the Universe. Facebook (now Meta) reported flat user growth across almost all of its platforms including Facebook, Instagram, and WhatsApp last quarter, but even more worrying for the company was the loss of around 1 million daily users in North America.

The majority of Facebook’s advertising profit comes from North American users, so a loss of 1 million users shows signs of what could be a worrying trend for the company. This loss of users led to an overall decrease in daily Facebook users globally which a company spokesperson said was the first sequential decline in the history of Facebook.

The seven biggest drops in stock market history have all taken place over the past two years, with tech firms like Apple, Microsoft, Tesla, and Amazon rapidly increasing in valuation. Facebook was already on the leaderboard for the largest value drop in 2018 when it lost $119 billion in market value.

Read more at CNBC here.

Lucas Nolan is a reporter for Breitbart News covering issues of free speech and online censorship. Follow him on Twitter @LucasNolan or contact via secure email at the address lucasnolan@protonmail.com