Mark Zuckerberg drops in billionaire ranks after losing $29B in single day as Meta stock tanks | Latest Tech News
Tough luck, Zuck!
Mark Zuckerberg tumbled from third to fifth place on the Bloomberg Billionaires Index after Meta’ stock plunged 11% on Thursday — wiping out $29.2 billion from his fortune in just one day.
The 41-year-old CEO’s internet value fell to $235.2 billion, his lowest rating in practically two years, as buyers recoiled from Meta’s plan to issue $30 billion in new debt to fund artificial intelligence spending, according to Bloomberg.
Mark Zuckerberg tumbled two spots on the Bloomberg Billionaires Index after Meta Platforms’ stock plunged 11% on Thursday. REUTERS
The drop was the fourth-largest one-day market-driven loss ever recorded by Bloomberg’s wealth index.
Zuckerberg reportedly refused to clap Wednesday after singer Billie Eilish said at the Wall Street Journal Magazine Innovator Awards that billionaires ought to “give your money away.”
Meta’s steepest stock selloff since 2022 adopted the company’s announcement that it might raise its complete expense forecast for 2025 to as a lot as $118 billion — including up to $72 billion in capital expenditures — to broaden its AI infrastructure, with even larger spending anticipated in 2026.
The staggering outlay triggered at least two analyst downgrades, with some warning that Meta’s AI ambitions might squeeze earnings.
Zuckerberg, who noticed his internet value soar by $57 billion earlier this 12 months as Meta shares rose 28%, was leapfrogged by Amazon founder Jeff Bezos and Google co-founder Larry Page.
Tesla CEO Elon Musk sits comfortably atop the billionaires rating, adopted by Oracle co-founder Larry Ellison.
Both Bezos and Page benefited from strong earnings that drove up their firms’ stock costs.
The 41-year-old CEO’s internet value fell to $235.2 billion, his lowest rating in practically two years. Zuckerberg is pictured with spouse Priscilla Chan. Getty Images
Amazon’s shares have surged more than 30% since April amid renewed optimism about its cloud-computing unit, which has inked offers with AI startups including Anthropic.
Alphabet stock climbed 2.5% after the company posted better-than-expected third-quarter income, powered by demand for cloud and AI companies.
Meta’s $30 billion bond sale — the most important investment-grade offering of 2025 — was meant to bolster spending on AI, data facilities and metaverse initiatives.
Instead, it sparked fears that the social media giant is overextending financially just as rivals gain ground in AI-driven promoting.
The Meta boss has poured a whole bunch of tens of millions of {dollars} into real estate, including a large property on Kauai, Hawaii. Google
He also owns a number of houses close to his main Palo Alto residence, acquired to preserve privateness. Bloomberg via Getty Images
The rout marked a sharp reversal for Zuckerberg, who earlier this 12 months was closing in on Bezos and Elon Musk in the global wealth rankings.
Despite his large wealth, Zuckerberg has cultivated a public image of modesty — often photographed in plain T-shirts and denims — while quietly indulging in some of the most extravagant purchases among Silicon Valley elites.
The Meta boss has poured a whole bunch of tens of millions of {dollars} into real estate, including a large property on Kauai, Hawaii, that reportedly contains an underground bunker with a blast-resistant door.
Zuckerberg has denied experiences of a “doomsday bunker.”
He also owns a number of houses close to his main Palo Alto, Calif., residence, which was designed to preserve privateness.
Zuckerberg bought the 387-foot yacht Launchpad for an estimated $300 million, along with a $30 million help vessel dubbed Wingman. Thierry Ameller
For his fortieth birthday, Zuckerberg reportedly hosted an extravagant bash aboard Launchpad — one of a number of lavish celebrations he’s thrown in latest years. Bloomberg via Getty Images
Zuckerberg’s Hawaiian holdings now span 1000’s of acres, making him one of the state’s largest personal landowners.
Local experiences say his property options an in depth security system and a community of tunnels linking buildings across the compound.
Though once identified for driving modest automobiles such as a Honda Fit, Zuckerberg owns an ultra-rare Italian Pagani Huayra valued at over $1 million, along with a growing assortment of classic vehicles.
Those embody Ford Broncos and a customized Porsche value about $250,000.
In latest years, he entered the superyacht scene in dramatic fashion. Zuckerberg bought the 387-foot yacht Launchpad for an estimated $300 million, along with a $30 million help vessel dubbed Wingman.
For his fortieth birthday, Zuckerberg reportedly hosted an extravagant bash aboard Launchpad — one of a number of lavish celebrations he’s thrown in latest years.
The billionaire also commissioned a 7-foot statue of his spouse, Priscilla Chan, a piece that underscores both his personal affection and penchant for eye-catching shows of wealth.
Meta shares had been down practically 2% as of 2 p.m. ET on Friday.
Zuckerberg has not publicly commented on the market drop. The Post has sought remark from Meta.
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