Mark Zuckerberg’s fortune plunged by $11 billion after his Meta Platforms Inc. reported a second-straight quarter of disappointing earnings, bringing his total wealth loss to more than $87 billion in just 13 months. Zuckerberg, 38, now has a net worth of $38.2 billion, according to the Bloomberg Billionaires Index, a stunning fall from a peak of $142 billion in September 2021. While many of the world’s richest people have seen their fortunes tumble this year, Meta’s chief executive officer has seen the single-biggest hit among those on the wealth list.
In the hours before finalizing his $44 billion acquisition of Twitter Inc., Elon Musk said he bought the social-media platform to help humanity, not to make more money. Indeed, by finalizing the deal, the world’s richest person, who now calls himself “Chief Twit,” took an instant $10 billion hit to his net worth, according to calculations by the Bloomberg Billionaires Index. Musk, 51, spent at least $25 billion to follow through on his agreement from April to buy Twitter for $54.20 a share, assuming he kept the external investors who’d committed $7.1 billion to the deal.
Jeff Bezos’ wealth plunged by $65.7 billion this year. This comes after Amazon.com Inc. projected sluggish sales for the holiday shopping season, sending shares plunging in after-hours trading. Amazon.com Inc.’s market value briefly fell below $1 trillion. The stock fell as much as 12 per cent on Friday after the e-commerce giant projected the slowest holiday-quarter growth in the company’s history, while sales at its important web services business missed estimates. That sent Amazon’s market value down to about $995 billion before the stock rebounded and closed with a decline of 6.8 per cent.
