Mark Zuckerberg risks losing $24 billion from his personal wealth as Meta's shares crashed over 20% in after-hours trading on Wednesday following its fourth-quarter earnings.
If the move holds, his fortune will fall from $120.6 billion (at market close) to $97 billion, Bloomberg reported.
This will take Zuckerberg off the world's 10 richest persons list for first time since 2015.
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.