Mark Zuckerberg Loses $29billion In Less Than 24hours After People Deleted Facebook

Blogger Ideology February 3, 2022

238,921 1 minute read

Shares in Facebook owner Meta fell 24% in morning trading after the company’s dismal earnings report.

Facebook’s plunging stock price weighed on world markets on Thursday, dragging down major stock indexes.

The decline signals Facebook’s worst one-day loss since its Wall Street debut in 2012.

This saw the company’s overall value dropping by $200 billion, a figure greater than the entire Ghana economy.

Mark Zuckerberg who is the CEO of Facebook saw $29 billion rubbed out from his net worth.

Zuckerberg who was the world’s seventh wealthiest person on Wednesday with a net worth of $121 billion, dropped off the top-ten list by the time the markets closed on Thursday.

At 11am, the Dow was down 230 points, or 0.64 percent. The S&P 500 dropped 1.24 percent and the Nasdaq was down 2.08 percent. Facebook is a component of the Nasdaq and S&P.