Mark Zuckerberg, the founder of the popular social media platform Facebook, has lost 18 billion dollars (more than 50 billion Pakistani rupees) in one day.
According to a foreign news agency report, the decline in his wealth came after the company’s quarterly earnings report, which resulted in a significant drop in Meta’s shares. This is the first time since October 2022 that Mark Zuckerberg has a day. I faced so much financial loss.
What is surprising is that during January-March 2024 Meta generated revenue and profit above investors’ expectations, but predicted lower earnings during April-June.
He said that the company will spend billions of dollars on Artificial Intelligence (AI) and Metaverse. He said that this year, 35 to 40 billion dollars will be spent on these areas.
As a result of the announcement, Meta’s shares fell and Mark Zuckerberg also lost billions of dollars.
Despite the $18 billion shortfall, he still owns $155 billion, making Elon Musk the third-richest person in the world once again.
Keep in mind that Mark Zuckerberg’s wealth decreased by around 100 billion dollars during 2022.
