Facebook CEO Mark Zuckerberg has dropped 14 spots on the list of the world’s richest people, according to the Bloomberg Billionaires Index. He is now the 20th richest person with a total net worth of $55.3 billion — down from $70.2 billion year-to-date on Monday due to a sharp decline in Meta’s share price.
Tesla CEO Elon Musk, Amazon founder Jeff Bezos and Microsoft creator Bill Gates are among the five richest people in the world. Musk, who tops the list, lost $2.55 billion last year, while Bezos (third) lost $44.4 billion. Gates (fifth) lost $26.2 billion.
Tech stock prices have suffered last year due to the economic downturn. The paper wealth of many big techs is linked to the huge stakes they still hold in the companies they founded.
Zuckerberg’s wealth peaked at around $140 billion in September 2021. A month later, he announced the rebranding of Facebook as Meta to highlight his shift in focus to the “metaverse”, a kind of digital world in reality. augmented and virtual. It was at this time that his wealth began to decline.
In February, Meta shares fell nearly 23% after unexpected spending in its “metaverse” led to a decline in fourth-quarter profit, as well as a lower-than-expected revenue outlook, amid growing rivalry with TikTok.
In July, Meta reported its first quarterly decline in revenue from a year earlier, after reporting its first decline in daily Facebook users.
In his nearly three-hour appearance on The Joe Rogan Experience in August, Zuckerberg said he thought the metaverse would likely be “a lot healthier” for people – reiterating his belief that it’s the next generation of the internet.
“My goal for this next set of platforms, they’re going to be more immersive and I hope they’re more useful – but I don’t necessarily want people to spend more time with computers,” he told Rogan. “I just want the time people spend with screens to be better.”
Check out the list of the ten richest, according to Bloomberg ranking
- Elon Musk (Tesla, USA): $262 billion
- Gautam Adani (Adani Group, India): $144 billion
- Jeff Bezos (Amazon, USA): $142 billion
- Bernard Arnault (LVMH, France): $137 billion
- bill Gates (Microsoft, US): $110 billion
- Warren Buffett (Berkshire Hathaway, USA): $94.6 billion
- Larry Page (Google, USA): $91.9 billion
- Mukesh Ambani (Reliance Industries Limited, India): $88.8 billion
- Sergey Brin (Google, US): $88 billion
- Larry Ellison (Oracle, USA): $87.1 billion