Facebook CEO Mark Zuckerberg lost $29 billion in a single day

 Meta Inc, the parent of Facebook lost 26% value of its share and net worth of $200 billion as its stocks plunges 

Facebook founder and CEO Mark Zuckerberg lost $29 billion net worth as his company Meta Inc known as Facebook lost value of its share 26% in a single day. Meta Inc lost $200 billion in the biggest ever single-day market value wipeout for a U.S. company. That pulled down founder and Chief Executive Officer Zuckerberg's net worth to $85 billion. Zuckerberg owns about 12.8% of the tech behemoth formerly known as Facebook.

Zuckerberg's one-day wealth decline is among the biggest ever and comes after Tesla Inc top boss Elon Musk's $35 billion single-day paper loss in November. Musk, the world's richest person, had then polled Twitter users if he should sell 10% of his stake in the electric carmaker. Tesla shares have yet to recover from the resulting selloff.

Following the $29 billion wipeout, Zuckerberg is in the twelfth spot on Forbes' list of real-time billionaires, below Indian business moguls Mukesh Ambani and Gautam Adani.

Zuckerberg sold $4.47 billion worth of Meta shares last year, before 2021's tech rout.

                                                                       Web Desk 

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