Facebook has a problem and Zuckerberg lost billions of dollars

Facebook founder and CEO Mark Zuckerberg lost $ 29 billion on Thursday, and the company that owns the social media platform, Meta Platforms, lost 26 percent, or more than $ 200 billion, in one day. – Reuters agency reported on Friday.

It was the biggest loss in 24 hours in the company’s history and also among American companies, the same source noted. According to Forbes , Thursday’s strike brought Zuckerberg’s net worth to $ 85 billion. The American biweekly magazine indicates that along with the loss of $ 29 billion. the head of the famous social network is currently in the 12th place of the richest people in the world.

Zuckerberg currently has around 12.8 percent. shares in the company Meta.

Young people go to TikTok?

In the last quarter of 2021, Facebook lost around half a million active, daily users – their number fell from 1.93 billion to 1.929 billion. This is the first decline in this indicator in the 18-year history of the website.

The number of monthly Facebook users remained relatively constant at 2.91 billion . Facebook’s parent company, Meta Platforms, warned of slower revenue growth due to user churning to other sites such as TikTok and YouTube , and lower advertising revenues.

A particularly large number of young users have left the platforms competing with Facebook – admitted the creator of the website and the president of Meta, Mark Zuckerberg . He added that he was counting on the company’s development in connection with new investments in video services and virtual reality. Meta is the second largest digital advertising platform in the world after Google – reminds the BBC.

In the last few years, Facebook has no longer gained new users in the US and Europe, but has continued to expand in other regions of the world – that has changed, and the platform is no longer as popular with young people as it used to be, comments the BBC.


Author: DoctorMaryam.org

3rd Professional Medical Student. Karachi Medical and Dental College.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: