Mark Zuckerberg’s choice to shift his emphasis and join the metaverse came at a high cost. This year’s highest loss in wealth for a billionaire featured on the Bloomberg Billionaires Index was $71 billion (5.65 lakh crore) for Facebook co-founder Mark Zuckerberg. The Meta CEO is presently rated 20th among global billionaires, down one position from 2014 and below three Waltons and two Koch family members.
Only Bill Gates and Jeff Bezos have higher fortunes now than mark Zuckerberg, 38, who was worth $106 billion less than two years ago and was part of an exclusive group of global billionaires. When the company’s shares reached a high of $382 in September 2021, his fortune increased to $142 billion.
In October of last year, mark Zuckerberg announced Meta and rebranded the firm from Facebook Inc. to Meta. According to the article, the corporation has subsequently declined. The firm disclosed in February that the number of monthly Facebook users had not increased, causing a huge drop in the price of its shares and a $31 billion loss in the CEO’s net worth.
According to senior internet analyst Laura Martin, Meta’s investments in the metaverse are hurting the company. She went on to say that TikTok, the current market leader, is where Meta needs to reclaim users. In 2022, Meta did worse than the bulk of its FAANG counterparts. FAANG is an abbreviation for Facebook, Apple, Netflix, Amazon, and Google.
According to the corporation,mark Zuckerberg owns $350 million in Meta. In some ways,mark Zuckerberg has attempted to redefine himself. He constantly referred to himself as a “product designer” in a three-hour interview on Joe Rogan’s podcast and just shared a video of himself partaking in mixed martial arts.
As always, I have a lot to talk about with you, including the White House’s demand that Facebook do more to remove vaccine disinformation, which I know is on a lot of people’s minds right now. I’d like to get to that, but first I’d like to speak about this lecture you gave internally at Facebook a few weeks ago, which I recently saw. You informed your staff that your future vision for Facebook is something called the metaverse, rather than the two-dimensional version we use today. So, what exactly is a metaverse, and how would Facebook contribute to it? As the month of June came to a close, Facebook CEO Mark Zuckerberg informed his staff of an ambitious new effort. The company’s future would extend much beyond its current ambition of developing a collection of connected social applications and supporting hardware. Instead, he stated that Facebook will seek to create a maximalist, linked universe right out of science fiction — a place known as the metaverse.