One billionaire has seen his fortune squeezed as a result of the tech downturn.
Mark Zuckerberg lost the most money out of the "ultra-rich" tracked on the billionaires index at the beginning of the year.
The net worth of Musk, Gates, and Bezos all fell.
They all lost a lot of money, but Facebook's lossesdwarfed them all. Since the start of the year, the founder of Facebook has dropped 14 spots in the outlet's index and now is at 20.
In May 2020 he was ranked third with a net worth of $82 billion.
He had a net worth of $142 billion in September of 2011.
He has a net worth of over 50 billion dollars.
His fortune is dependent on Meta's performance. It was a bad year for the company. There is skepticism about Meta's pivot to focusing on the virtual reality metaverse.
The public may be uneasy. A picture of his metaverse persona was roasted for its simplicity, but later said it was a draft of sorts.
Facebook is losing out on Generation Z because of the company's attempts to duplicate short-form video on other platforms.
In February, Facebook reported losing users for the first time in its history, and that day alone, the company's founder lost over $30 billion.
Meta was trading at $338 a share in January, and it's now down to $148 a share.
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