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Mark Zuckerberg's wealth may slide $25 billion in a day as Big Tech faces $350 billion sell-off [Business Insider]
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Amazon, Alphabet, and Microsoft shares also fell, raising the prospect of a Big Tech sell-off. Mark Zuckerberg's fortune could shrink by $25 billion in a single day due to Meta's post-earnings slump The cofounder and CEO of Facebook, Instagram, and WhatsApp's parent company was worth an estimated $175 billion at Wednesday's close, per the Bloomberg Billionaires Index Zuckerberg has a stake of about 13% in Meta that was valued at around $170 billion at Wednesday's close. However, the stock price tumbled as much as 15% to $420 in premarket trading on Thursday, indicating Zuckerberg's shares are now worth $25 billion less at $145 billion. If that decline persists after the market open, Zuckerberg's net worth could plunge to under $150 billion. That would rank him in fifth place on Bloomberg's rich list, below Microsoft cofounder Bill Gates, assuming Gates' wealth doesn't drop significantly too. A $25 billion reduction in wealth in one day would be remarkable, as only the top 7
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