Mark said that every morning he feels like he's been punched in the stomach because of the millions of messages he gets. He may be feeling worse lately due to a huge drop in his wealth.
According to the billionaire index, the CEO of Facebook dropped 14 spots on the list. As of Monday, he was the 20th wealthiest person with a total net worth of $55.3 billion, down $70.2 billion year-to-date due to a decline in Meta's share price.
The top five richest people, including Musk, Bezos, and Gates, have their own financial losses to contend with. Musk, Bezos, and Gates lost a lot of money over the last year.
Tech stock prices have fallen over the last year due to the economic downturn. Tech giants' paper wealth is tied to their stakes in the companies they founded.
In September of 2021, his wealth was around 140 billion dollars. He announced a month later that Facebook was changing its name to Meta to highlight its focus on the Metaverse. He had begun to see his wealth decline.
In February, Meta stock plunged after unexpected spending on its "metaverse" led to a decline in its fourth-quarter profit, as well as a lower-than- expected revenue outlook.
Meta tried to compete with TikTok by pushing its own video service, called Reels. The changes the team is implementing are disliked by some.
The first decline in revenue from the previous year was reported by Meta in July.
He seems to have not been discouraged by the drop in wealth. In an interview with The Joe Rogan Experience in August, he said that the metaverse would be a lot healthier for people.
He told Rogan that he doesn't want people to spend more time with computers, but he hopes they'll be more useful. The time that people spend with screens should be better.
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