Facebook founder Mark Zuckerberg is no longer among the ten richest men in America after losing $76.8 billion last year
Meta CEO Mark Zuckerberg is not one of America’s 10 richest people for the first time since 2015, due to his company’s stock price plummeting over the past year .
The 38-year-old Facebook founder has lost more than half his fortune – $76.8 billion – since September 2021, leading him to drop from number three to number 11 on the Forbes 400 list richest people in America, according to Forbes.
As of Tuesday, September 27, Zuckerberg’s net worth stood at $57.7 billion.
In October 2021, Facebook officially became Meta.
Since then, Meta’s Reality Labs division has lost $10 billion last year, the company announced earlier this year on its earnings call. The company, which has seen its stock price plummet 38% in the past six months, has also come under increased government scrutiny on many fronts, including an FTC antitrust investigation into the company. by Zuckerberg.
Meta’s Instagram and Facebook are also losing their middle-aged and teenage customers to TikTok. Facebook reported its first-ever quarterly loss of daily active users in February.
On the new Forbes 400 list, Elon Musk, worth $251 billion, reigns supreme, Amazon founder Jeff Bezos, worth $151 billion, and Microsoft founder Bill Gates , worth $106 billion, compete in the top 3.
Software mogul Larry Ellison ranks fourth with $101 million, just above investor Warren Buffet with $97 billion.
Alphabet co-founders Larry Page and Sergey Brin, who have also seen their net worth plummet, take fourth and fifth place. Former Microsoft CEO Steve Balmer ranks eighth with a value of $83 billion.
Aside from Musk, the only other person in the top ten to see his fortune increase is Michael Bloomberg.
Jim Walton, the youngest son of Walmart founder Sam Walton, completes the top ten with a value of $57.9 billion.
Zuckerberg became a billionaire in 2008 at the age of 23. It debuted on the Forbes 400 list at number 321 with a value of $1.5 billion.