The Blubber

Per Forbes

Mark Zuckerberg had one of the toughest years in 2022 among fellow billionaires as the CEO and founder of Facebook, now Meta, saw his net worth drop from $171 billion on Sep 2021 to just a little over $36 billion nearing the end of 2022. Now, his net worth has slowly recovered and now sits at $67.6 billion.

Per Bloomberg Index, Mark Zuckerberg's net worth has already increased by $24.1 billion year-to-date, which is a 52.9% jump. Although far from his previous record of getting close to the richest man in the world, his net worth shot up by $12.5 billion in just one day.

Zuckerberg was one of the ten richest people in the world and even competed with the likes of Warren Buffett, Bill Gates, and even Elon Musk and Jeff Bezos. Now, the CEO's net worth took a massive hit as Meta stocks dropped massively throughout 2022.

The Meta CEO is known for his big bet on the metaverse, even changing the name of his company Facebook to Meta. However, this has not yet come to fruition as the company's Horizon Worlds, its version of the metaverse, dropped its target from half a million monthly active users to just 200,000 by the end of 2022.

According to a report in October of last year, the drop in estimations came despite Meta already spending $15 billion since 2021. During that time, it was noted that at least 50 people visited only 9% of the world and that Horizon Worlds struggled to increase its user base.

The jump in Zuckerberg's net worth comes as he previously announced that Meta will experience a 13% job cut and that 11,000 employees will leave the company. Upon the announcement, Meta shares jumped by 4% during premarket trading.

See flow at unusualwhales.com/flow.

Other News:

• Meta Targets 500K Monthly Active Users for Horizon Worlds by Year End but Reports Less than 200K Despite $15B Spending
• Mark Zuckerberg Confirmed 13% of Meta Staff Will Lose Their Jobs—Company to Lay Off Over 11,000 Employees

Resources:

Forbes