Meta Stock Plummets... Zuckerberg Falls to 10th Richest Person Worldwide

On October 28 last year, Mark Zuckerberg, CEO of the world's largest social media platform Facebook, unveiled the new mission and logo at an online event. [Image source=Yonhap News]

The stock price of Meta Platforms, the parent company of Facebook, plummeted, causing its CEO Mark Zuckerberg to fall to 10th place in the global billionaire rankings.

On the 3rd (local time), The Wall Street Journal (WSJ) cited the Bloomberg Billionaires Index, reporting that Zuckerberg's net worth decreased by $31 billion (approximately 37.15 trillion KRW) due to Meta's stock price collapse.

As a result, Zuckerberg's personal fortune dropped to $89.6 billion (approximately 107.376 trillion KRW), placing him 10th among the world's wealthiest individuals.

Originally, his net worth was $120.6 billion (approximately 144.526 trillion KRW), ranking 7th after Sergey Brin, co-founder of the world's largest search engine company Google, who had $122 billion.

Investment guru Warren Buffett ($114 billion), former Microsoft (MS) CEO Steve Ballmer ($108 billion), and Oracle founder, chairman, and CTO Larry Ellison ($100 billion) surpassed Zuckerberg.

On the 3rd, Meta's stock price fell by as much as 26%, wiping out $232 billion (approximately 278 trillion KRW) of the company's market capitalization. This is the largest single-day market cap drop for a listed company in U.S. stock market history.

The poor performance in the fourth quarter of last year, announced the previous day, and signs that Facebook's global user growth has stalled are interpreted as factors influencing this decline.

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