Since the Start of January, Mark Zuckerberg has Lost N161.7bn Daily, As He Drops to 17th in Billionaire List

Since the Start of January, Mark Zuckerberg has Lost N161.7bn Daily, As He Drops to 17th in Billionaire List

  • 2022 is not looking good for the finances of Mark Zuckerberg Meta Co-founder and chief executive
  • Zuckerberg started the year at 6th position, however, in six months he has fallen 11 places to sit at 17th position
  • The drop-in places were due to a daily loss of N301 billion as his wealth plummeted to below $60 billion

Co-founder and chief executive of Meta Platforms, Mark Zuckerberg has lost more than 50% of his wealth in 2022.

According to the Bloomberg Billionaire Index, the tech giant’s CEO is currently worth $58.1 billion as at June 22, 2022 falling greatly from the triple-digit valuation of $125.5 billion at January 1st.

Mark's current wealth level means he has lost over $67.4 billion since the start of the year or $389.5m (N161.7bn) daily in 173 days.

Mark Zuckerberg wealth is dropping very fast
Mark Zuckerberg is the CEO of META Credit: Kyodo News
Source: Facebook

Mark's significant drop in value follows the uncertainty around the tech space and has continued to cause a plunge in the valuation of his net worth.

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Notably, the dip comes a few months after the billionaire hit $142 billion, his all-time high last year.

Zukerberg wealth source

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, CNBC reports.

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 billion reflecting the billionaire’s wealth.

List of top internet providers in Nigeria by subscribers as Elon Musk's Starlinks gets FG's approval

In other news, Legit.ng had earlier ranked in the top 10 internet service providers using their number of subscribers.

As Elon Musk's telecommunication company, Starlink finally gets approval to operate in Nigeria and will challenge MTN, and others for market share.

The number of internet users in Nigeria has risen in the previous ten years, with the NCC reporting over 100 million.

Source: Legit.ng

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