Mark Zuckerberg has lost more than half of his wealth in 2022

Mark Zuckerberg, co-founder and CEO of Meta Platforms, has seen a loss of more than 50% of his wealth as of 2022.

The CEO of the tech giant is currently valued at N58.6 billion, a significant decrease from the triple-digit valuation of $125.5 billion year to date, according to the Bloomberg Billionaire Index.

The uncertainty surrounding the tech sector has continued to cause a decline in the valuation of his net worth, with his main assets being META US Equity.

Notably, the decline occurs just a few months after the billionaire’s all-time high of $142 billion last year. Zuckerberg has dropped out of the top 10 places and is now listed as the 17th richest person in the world.

Did you should know?

• The majority of Zuckerberg’s fortune is derived from a 13% stake in Meta Platforms, formerly Facebook owned through a series of trusts and holding companies.
• In 2022, tech stocks have declined greatly as central banks move to tame increasing inflation compared to the previous years when tech led the stock market.
• Over the past few months, tech firms have seen their valuations slashed in both the public and private markets.
• In September last year, Facebook reached $378.69 billion, its all-time high, around this time, Zuckerberg’s valuation was at its high. Meanwhile, as of today, the tech company is worth $159.10 reflecting in the billionaire’s wealth.
• In its Q1 2022 result, Facebook exceeded revenue expectations per user as well as earnings expectations. However, nearly all other key metrics missed, including monthly active users.
• Facebook’s revenues grew by 7% in the first quarter since it became a public company, marking the company’s first growth in the single digits in the past ten years. Analysts had predicted 7.8% growth.
• 97.5% of Facebook’s revenue came from its apps, including its core app, Instagram, and WhatsApp. Lastly, $695 million came from Reality Labs, the company’s attempt to create products in the metaverse.