Zuckerberg’s personal fortune has sunk “a staggering US$76.8 billion,” the nation’s single largest net-worth plummet since last September.
Things could get worse for Zuckerberg.
Users and advertisers have been “jumping ship” from Facebook, and only four stocks in the entire S&P 500, the Wall Street Journal notes, “are having a worse year” than Meta, Facebook’s parent company.
Zuckerberg remains defiantly optimistic amid the current carnage, even telling CNBC this past summer that he envisions getting “around a billion people” — each spending “hundreds of dollars” — on the virtual-reality “metaverse” his Meta is now building.
But Zuckerberg’s bravado isn’t convincing Wall Street, and some financial analysts now see Meta in a “death spiral.”
Some good-news perspective for Zuckerberg: The 38-year-old could lose another US$50 billion and still be worth over 22 000 times more than what typical American workers earn in a year.-Inequality.Org
(137 VIEWS)
The role of social media on how people get their news in Zimbabwe is being…
Ten African countries are amongst the biggest debtors to China, but Zimbabwe is not among…
The Reserve Bank of Zimbabwe’s Monetary Policy Committee, which met on Friday last week, says…
Zimbabwe’s new currency further weakened to 13.4407 to the United States dollar today down from…
The United States lost its place as the most influential global power in Africa last…
The Reserve Bank of Zimbabwe governor John Mushayavanhu says street money changers who cash in…