Meta CEO and Facebook founder, Mark Zuckerberg, is in big trouble. It was related to the performance of Meta shares which continued to decline and made Zuck’s wealth plummet drastically.
As quoted from Futurism, Wednesday (21/9/2022) Zuckerberg’s assets this year fell to USD 71 billion or more than Rp. 1,000 trillion, to the ‘remaining’ USD 55 billion. According to the Bloomberg Billionaires Index, Zuck currently occupies the position of the 20 richest people, having previously always been in the top 5 list.
Of course, Zuck’s treasure is still very large. But this is the first time in 8 years that his ranking on the list of the world’s richest people has fallen so far. Even though 2 years ago, he was still the third richest man in the world.
Indeed, in 2022, many technology company shares fall. But the wealth of Jeff Bezos to Bill Gates did not go down as deep as Zuck. So it’s clear he’s in a lot of trouble.
Facebook’s valuation was still high before in September 2021, Zuck announced a name change to Meta in order to develop a virtual metaverse universe. Mark Zuckerberg strongly believes in it as the future of the internet.
But so far, the concept of the metaverse seems to be floating around. Not to mention that virtual reality devices to access them are still expensive and gambot alias is not fun to use for long.
So, it’s not surprising that investors are not so sure about business betting in the metaverse. There are even experts who think that Zuckerberg brought Meta down with him.
“I don’t think Facebook is going to be good while he’s still there. He seems to be one of the reasons why so many people don’t look at the company anymore. He’s really lost his way,” said Harvard Business School academic Bill George.
Not to mention that another Meta business empire, Instagram, is seriously threatened by TikTok. However, with a myriad of experiences, it is possible that Mark Zuckerberg can turn things around.