Mark Zuckerberg’s wealth drops by $18 billion due to Meta’s earnings.

Meta Platforms CEO Mark Zuckerberg faced a significant downturn in his net worth, dropping by $18 billion after the company’s recent earnings call. The stock price of Meta took a hit following remarks made by Zuckerberg, causing the steepest decline since October 2022. Despite exceeding revenue and profit expectations, Meta provided a revenue forecast below estimates. Zuckerberg assured investors that the company would maintain substantial investments in emerging technologies like artificial intelligence and the metaverse, despite relying heavily on advertising for 98% of its revenue.

Mark Zuckerberg, who holds approximately 345 million Class A and B shares, witnessed a sharp decrease in the value of his stake by $18 billion as the stock plummeted by $52.12 on Thursday, closing at $152 billion. The tech mogul, who famously founded the company in his Harvard dorm room in 2004, rebranded Facebook to Meta in 2021, signaling a strategic shift towards the metaverse.

Meta’s Reality Labs division, responsible for metaverse development, has reported total losses of $45 billion since its inception in 2020. The company plans to allocate $35 billion to $40 billion for capital expenditures this year, marking an increase from previous forecasts.

Zuckerberg’s wealth has experienced dramatic fluctuations over the years, closely tied to Meta’s stock performance. In 2022, his net worth plummeted by approximately $100 billion, only to rebound significantly after announcing an “efficiency-focused year.” The recent decline in stock value is not unfamiliar to Zuckerberg, with a historic loss of nearly $30 billion in a single day during early 2022 due to poor financial results.

Despite these setbacks, Zuckerberg remains a prominent figure in the tech industry, navigating the challenges that come with leading a company at the forefront of innovation. The volatility in Meta’s stock reflects the uncertainties in the market and the demands of staying ahead in the rapidly changing landscape of technology.

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Meta Platforms CEO Mark Zuckerberg speaks about the Facebook News feature at the Paley Center For Media in New York on Oct. 25, 2019.

Drew Angerer | Getty Images News | Getty Images

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