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Mark Zuckerberg loses $30 billion as Facebook shares crash, knocked off world’s Top 10 rich list

Facebook founder Mark Zuckerberg.(File Photo)

Facebook founder Mark Zuckerberg’s personal net worth dropped by $30 billion on  Thursday after his company’s shares crashed by 26%, knocking him out of the world’s Top 10 richest individuals list, according to Forbes real-time calculations.  

Meta (formerly Facebook) share price fell to $237.76, wiping off about $232 billion in value, which was the largest one-day drop in market value of any stock in US history, Dow Jones reported, citing its market data.

The social media giant late Wednesday reported the first quarterly decline in its user base in company history.

Facebook reported 1.929 billion daily users in the fourth quarter, down from 1.93 billion users the previous quarter. The unprecedented decline in Facebook’s average daily users has raised concerns about the company’s future growth.

For Meta, the disappointing earnings add to its challenges. It's in the middle of a number of regulatory fights and also looking to justify its strategic shift to bet on an immersive internet known as the metaverse. Meanwhile, other platforms like TikTok and YouTube are gaining ground with younger users, according to US media reports.

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