Mark Zuckerberg’s Net Worth Plummets From $118 Billion To $96.7 Billion After Meta’s Rebranding

Mark Zuckerberg’s wealth has witnessed a massive decline over the past two years. And we’re talking about a huge drop in his net worth from $118 billion to $96.7 billion.

The news arose after the rebranding of Facebook as Meta and that was to show the world how keen he was to put forward his idea of the metaverse.

After that certain moment in time, we saw his wealth fall with the figures of Meta’s shares. Thankfully, he has managed to recover that over time but you need to understand that it’s a big deal.

As soon as the rebranding of Meta was announced, it took a direct effect on his wealth as per the Billionaires Index from Bloomberg.

During the early hours of Friday, Zuckerberg’s net worth hit a staggering $96 billion, per recent stats unveiled by the Bloomberg Index.

When you consider those massive gains, you’ll see it as a huge loss, all thanks to rebranding.

Then during the latter part of last year, we saw his net worth fall to a new low and the pricing of stocks plummet. Millions were lost and it was embarrassing for the earnings report to come forward with Facebook recording its first massive user fall in history.

The year 2023 has been very hectic and we’ve seen shares during the start of this year really reach a new low. So many people have been fired and other problems were linked to regulators and also those related to the world of academics. Additionally, the issue with competition arising from tech giant Apple has really shown how Zuckerberg is not in the driving seat by any means.

Yes, Meta did unveil its much-awaited VR headset but it was overshadowed by one coming forward from tech giant Apple called Vision Pro. It was very interesting to see how Apple failed to use the term metaverse in its demonstrations. Moreover, it was on a mission to keep itself far away from the metaverse as possible and did not want anything to do with it.

A recent report from another media outlet showed how the Meta CEO was criticizing Apple. He put up the differences between both of these headsets and it was interesting what forms of differences were drawn.

Meta also went down in popularity when he told his workers that the company was interested in wanting people to work and be present in the world of VR together. Moreover, Meta claims it’s going to be taking more risks throughout the year as recent reports highlighted how it was testing a potential date for the release of its Twitter arch-rival.

In 2021, Mark Zuckerberg was among the rankings for Bloomberg’s wealthiest individuals. His rank went all the way up to putting him as a part of the richest individuals around the globe.

But he underwent a massive fall in the next few years and that’s when this tech CEO started to spend a huge chunk of 2022 out of the list of the wealthiest people from around the globe.

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by Dr. Hura Anwar via Digital Information World