Mark Zuckerberg is only the 20th richest person
Meta CEO Mark Zuckerberg’s net worth has plummeted by 1.2 trillion rand ($70 billion) this year, so he has been relegated to the 20th richest person in the world.
MARK ZUCKERBERG FALLS BACK TO 20TH RICHEST PERSON
Business Insider reports that Mark Zuckerberg started the year with a fortune of 2.2 trillion rand ($125 billion). However, according to Bloomberg’s Billionaires Index, it fell 55% to 979 billion rand ($55.3 billion).
Meta, the owner of Facebook, Instagram, WhatsApp and Oculus has had a tumultuous year. This was after Zuckerberg announced he would become a “metaverse” company. It then unveiled a massive rebrand in October 2021. However, Facebook experienced its first-ever drop in user numbers as they lost around one million active users in the last quarter of 2021.
Meta’s net income is reported to have fallen by more than 53 billion rand ($3 billion) in the second quarter, compared to the same period in 2021. The company revealed that it spent more than 170 billion rand ($10 billion ) in Metaverse investments in 2021.
“For us, the metaverse business isn’t really going to be a significant contributor to the business until at least much later in this decade, and probably realistically this decade is going to be about laying the groundwork for that, and then the 2030s will be really where it’s going to contribute a lot to the profits of this company,” Zuckerberg said at the company’s annual meeting of shareholders in May.
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THE RICHEST IN THE WORLD
According to Bloomberg’s Billionaires Index, Zuckerberg is now the 20th richest person in the world behind Walmart co-founder Sam Walton’s three children:
- Jim Walton
- Rob Walton
- Alice Walton
So who are the five richest people?
- Elon Musk is still the richest person in the world with a net worth of $268 billion. It is followed by:
- Gautam Adani: 2.6 trillion rand ($150 billion)
- Jeff Bezos: 2.5 trillion rand ($145 billion)
- Bernard Arnault 2.4 trillion rand ($137 billion)
- Bill Gates 1.9 trillion rand ($111 billion)
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