The personal wealth of Mark Zuckerberg, the head of Meta, who is known as an extremist and banned in Russia, increased by $12 billion in one day due to a 21% increase in the company’s shares. According to business insideroptimism in the market is associated with falling company costs and laying off many employees.
“The February 2 rally adds to Meta’s earnings streak and its profits are over 50% this year,” the article states.
According to the Billionaires Index Bloomberg, Zuckerberg’s personal wealth was $57.2 billion, ranked 21st. But at the start of 2022, Zuckerberg’s net worth was $125 billion.
The sharp decline is associated with a sharp drop in the price of Meta shares, which for the first time lost about two-thirds of its value in 2022, the social network Facebook (the owner of Meta was considered extremist and was banned in Russia). time reported a decrease in the number of daily active users.
Zuckerberg in November 2022 mass layoffs announcedIt affects about 13% of its employees, or more than 11,000 people. It also introduced other cost-cutting measures. Meta plans to continue this policy within the organization in 2023 as well.
Source: Gazeta
Jackson Ruhl is a tech and sci-fi expert, who writes for “Social Bites”. He brings his readers the latest news and developments from the world of technology and science fiction.