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Business

Ambani, Adani now richer than Mark Zuckerberg as he loses $30 billion in one day

by TLN Team February 4, 2022February 4, 2022
written by TLN Team February 4, 2022February 4, 2022
Ambani, Adani now richer than Mark Zuckerberg as he loses $30 billion in one day

Mark Zuckerberg lost up to $31 billion on Thursday as Meta Platforms Inc’s stock plunged 26 per cent, wiping out nearly $251 billion in market value.

According to reports, the largest single-day market value wipeout in history has pulled down founder and CEO Zuckerberg’s net worth to $85 billion. Zuckerberg owns roughly 12.8% of Meta Inc’s stock, which was formerly known as Facebook.

As per reports, Meta’s overall stock value dropped by more than $200 billion USD, roughly the size of New Zealand’s economy. In the fourth quarter, Meta reported a revenue of 33.67 billion dollars but a net profit of $10.3 billion, which is about 8% less than the previous year.

Following the wipeout Zuckerberg has fallen to twelfth place on Forbes’ list of real-time billionaires, behind Mukesh Ambani and Gautam Adani.

Gautam Adani is the richest Indian, with an estimated net worth of $90 billion. He is currently ranked tenth on the list, with Mukesh Ambani, the eleventh richest person on the planet, currently worth $89 billion.

Despite the massive devaluation of Meta’s stock, Amazon founder and fellow billionaire Jeff Bezos has increased his valuation by nearly $20 billion as a result of Amazon’s increased earnings.

With a net worth of $164 billion, Bezos owns 9.9% of the company and is the world’s third richest man. Elon Musk, the CEO of Tesla Inc, is at the top of the list, with a net worth of $232 billion.

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