Mark Zuckerberg's Net Worth Plummets $180 Billion After Meta's Earnings Call (2024)

Published Apr 26 2024 11:04:50 by: Andy Warhol

• Mark Zuckerberg's net worth dropped by $180 billion after Meta's earnings call.
• Meta exceeded revenue and profit expectations but fell short in providing a revenue outlook, impacting stock performance.
• Zuckerberg's holdings decreased by approximately $180 billion as Meta's stock price fell by $52.12 on Thursday, closing at $1,520 billion.
• Meta's focus has shifted towards the metaverse, with its Reality Labs department accruing significant losses in recent years.

Mark Zuckerberg's Losses

Mark Zuckerberg, the CEO of Meta's parent company Facebook, saw his net worth drop by $180 billion following his comments on the earnings call, reigniting investor concerns.

Meta's Earnings Call Impact

Although Meta exceeded Wall Street's expectations for last quarter's revenue and profit, the provided revenue outlook fell short of analysts' estimates. Zuckerberg stated the intention to continue investing billions of dollars in AI and the metaverse, further impacting stock performance.

Zuckerberg's Holdings

Zuckerberg, who owns about 345 million Class A and Class B shares, saw the value of his holdings decrease by approximately $180 billion as Meta's stock price fell by $52.12 on Thursday, closing at $1,520 billion.

Meta's Focus on the Metaverse

Aged 39, Zuckerberg founded Facebook in his Harvard dorm room in 2004 and rebranded the company as Meta in 2021, signaling his pivot towards the metaverse. Meta's Reality Labs department, responsible for developing metaverse hardware and software, has accumulated losses totaling $45 billion since being separately listed in the company's financial reports in 2020.

Published Apr 26 2024 10:04:05 by: Andy Warhol

The US stock market experienced a decline on Thursday due to concerns over slowing economic growth and persistent high inflation. Despite this, the semiconductor stocks rebounded, helping...

read more

Published Apr 26 2024 10:04:56 by: Andy Warhol

US Seeking Support from Allies

The US government is seeking cooperation from the Netherlands, Japan, and South Korea to impose...

read more

Published Apr 26 2024 11:04:52 by: Andy Warhol

Intel's Quarterly Earnings Report

Intel's stock price dropped by 8% in after-hours trading following the company's Q1 earnings report. While the earnings per share exceeded Wall Street's expectations, the revenue...

read more

Published Apr 26 2024 11:04:54 by: Andy Warhol

Tech Stocks Rally

Taiwan Semiconductor ADR surged 2.7% to $136.58, widening the premium over Taipei trading to 16.2%. Meta's announcement of increased AI investments confirmed high demand for AI hardware.

...

read more

Published Apr 26 2024 11:04:54 by: Andy Warhol

Sanctions Imposed on TikTok

A report from the US political news site Politico on 24th has highlighted the recent passage of a sanction bill by the US Congress that will...

read more

Published Apr 26 2024 11:04:54 by: Andy Warhol

US Economic Growth Slows

The US Commerce Department reported that the first-quarter Gross Domestic Product (GDP) grew at an annual rate of 1.6%, below the economists' estimate of 2.4%. The...

read more

Published Apr 26 2024 11:04:52 by: Andy Warhol

TikTok's Fate Hangs in the Balance

Reports suggest that TikTok's parent company ByteDance may shut down the app rather than sell it, if legal action fails to prevent a ban...

read more

Published Apr 26 2024 12:04:56 by: Andy Warhol

Oil Prices Rise

Oil prices rose as the weakening dollar boosted commodity prices, although the demand outlook remains uncertain with some refined oil products showing weakness. West Texas Intermediate (WTI)...

read more

Published Apr 26 2024 12:04:55 by: Andy Warhol

The Seminar and Attendees

According to the 'Swedish-Taiwanese Parliamentary Association,' a seminar was held in the Swedish parliament to discuss Taiwan's participation in the World Health Organization (WHO). The event...

read more

Published Apr 26 2024 12:04:49 by: Andy Warhol

Russian President's Plan

According to reports, Russian President Putin plans to visit China in May. The specific date of the visit has not been confirmed, but it may coincide with...

read more