The net worth of Meta CEO Mark Zuckerberg, once the third richest man in the world, has dropped more than 51% this year, placing him 22nd on Forbes’ list of the richest in the world.

Zuckerberg was worth a whopping $ 142 billion in September 2021, just a month before Meta was introduced and the company renamed to Facebook Inc. about $ 55.9 billion, according to Bloomberg Billionaires Index.

This means that in the past year alone, Zuckerberg has seen a decline in value of more than $ 71 million. The Meta shares, which include most of Zuck’s fortune, have lost around 60% of their value over the same period.

In February, just months after the rebranding, Zuckerberg revealed that Facebook’s number had dropped for the first time in its history. This resulted in a historic plunge in stock prices, which was also reflected in the personal worth of the billionaire. In just one day, Zuckerberg noticed that his net worth fell by an estimated $ 31 billion, one of the largest one-day dips in wealth ever recorded.

Meta – which owns Facebook, Instagram, WhatsApp and Oculus – has also been mired in controversy since whistleblower Frances Haugen released information from internal company records last fall. She made several statements against the company, including being aware of studies showing that Instagram contributed to eating disorders and suicidal ideation in teenage girls.

The founder of the company formerly known as Facebook, Zuckerberg, was once on the Forbes list of billionaires only behind Tesla CEO Elon Musk and Amazon’s Jeff Bezos. Musk, with a net worth of $ 276 billion, maintained its number one spot. He is followed by Bernard Arnault and his family, followed by Gautam Adani with his family. Bezos is currently in fourth place, with an estimated net worth of $ 145 billion.

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