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Meta’s Mark Zuckerberg is NOT in America’s 10 richest people for the first time since 2015

Meta CEO Mark Zuckerberg, 38, has lost more than half of his $76.8 billion fortune since September last year
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Facebook founder Mark Zuckerberg is no longer in America’s top 10: Mogul sees more than half his fortune disappearing as Meta’s stock price plummets

  • Meta CEO Mark Zuckerberg fell from third to 11th on the Forbes 400 list of richest Americans
  • Zuckerberg, 38, slashed his fortune by $76.8 billion last year
  • Meta’s stock price has fallen over 38% in six months as the company faces an advertising slowdown, competition from TikTok, and declining user interest
  • The Facebook founder became a billionaire in 2008 and debuted at number 321 on the Forbes 400 list with a value of $1.5 billion

Meta CEO Mark Zuckerberg has ranked among America’s 10 richest people for the first time since 2015, thanks to his company’s stock price plunge last year.

The 38-year-old Facebook founder has lost more than half of his $76.8 billion fortune since September last year, which resulted in him ranking third on the Forbes 400 list of America’s richest people dropped to 11th place.

Zuckerberg’s net worth today is $57.7 billion.

Meta CEO Mark Zuckerberg, 38, has lost more than half of his $76.8 billion fortune since September last year

Meta CEO Mark Zuckerberg, 38, has lost more than half of his $76.8 billion fortune since September last year

Meta, whose share price has fallen 38 percent over the past six months, has also faced increased government scrutiny on many fronts

Meta, whose share price has fallen 38 percent over the past six months, has also faced increased government scrutiny on many fronts

In October 2021, Facebook officially became meta when the tech mogul said at the time that his company would invest heavily in developing part of the metaverse – a digital realm accessed with augmented and virtual reality devices, in people will one day work, shop and engage in leisure activities.

Meta’s Reality Labs division lost $10 billion last year, the company announced during its conference call earlier this year. The company, whose share price has fallen 38 percent over the past six months, has also faced increased government scrutiny on many fronts.

On June 28, the Federal Trade Commission announced it was blocking Meta’s proposed $400 million purchase of Within — which developed a popular virtual reality fitness app called Supernatural — calling it an “illegal acquisition.”

There is also a separate, pending FTC antitrust investigation into Zuckerberg’s company.

Meta also sees less interest in Instagram and Facebook, as younger users in particular are flocking to TikTok and newer apps like BeReal

Meta also sees less interest in Instagram and Facebook, as younger users in particular are flocking to TikTok and newer apps like BeReal

Meta's Reality Labs division lost $10 billion last year, the company announced during its conference call earlier this year

Meta’s Reality Labs division lost $10 billion last year, the company announced during its conference call earlier this year

Meanwhile, Apple’s privacy policy update last year made it much more difficult for companies like Meta to track users across the web and apps — hurting ad sales. The company reported its first quarterly sales decline in July.

Meta also sees less interest in Instagram and Facebook, as younger users in particular are flocking to TikTok and newer apps like BeReal. The company reported its first quarterly loss in daily active users in February.

Instagram faced a violent backlash from celebrities and regular users in late July, who accused the company of copying TikTok to focus more on sharing videos with reels than traditional photos and posts.

The platform was forced to revert some of the proposed changes due to user dissatisfaction and a petition urging executives to “make Instagram back to Instagram.”

The Forbes 400 list is led by Elon Musk with $251 billion, Amazon founder Jeff Bezos with $151 billion and Microsoft founder Bill Gates with $106 billion.

Musk, like Tesla’s CEO and founder of SpaceX, also co-founded Boring Company and may end up owning Twitter pending the outcome of the litigation.

Software mogul Larry Ellison is fourth with $101 million, just above investor Warren Buffet with $97 billion.

Alphabet co-founders Larry Page and Sergey Brin, who also saw their net worth decline, rank fourth and fifth. Ex-Microsoft CEO Steve Balmer is eighth with a fortune of $83 billion.

Aside from Musk, Michael Bloomberg is the only other person in the top ten whose wealth has increased.

Jim Walton, the youngest son of Walmart founder Sam Walton, rounds out the top ten at $57.9 billion.

Zuckerberg became a billionaire in 2008 at the age of 23. He debuted on the Forbes 400 list at number 321 with a value of $1.5 billion.

What is the metaverse?

The “Metaverse” is a series of virtual spaces where you can play, work, and communicate with others who are not in the same physical space as you.

Meta founder Mark Zuckerberg was a leading voice for the concept, which is seen as the future of the internet and would blur the lines between the physical and the digital.

“You can hang out with friends, work, play, study, shop, be creative, and more,” says Meta.

“It’s not necessarily about spending more time online — it’s about making the time you spend online more meaningful.”

While Meta is in charge of the Metaverse, it stated that it is not a single product that a company can build.

“Just like the internet, the Metaverse exists regardless of whether Facebook is there or not,” it added.

“And it’s not built overnight. Many of these products will only be fully realized in the next 10-15 years.’

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