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Mark Zuckerberg's net worth plummets by more than $18 billion in Meta stock drop - TL;DR CNBC

Mark Zuckerberg's net worth plummets by more than $18 billion in Meta stock drop

Publishing timestamp: 2024-04-25 18:00:42


Summary

Meta CEO Mark Zuckerberg's net worth dropped by $18 billion after the company's stock plunged following its earnings call. Despite beating revenue and profit expectations, Meta's lighter-than-expected revenue forecast and plans to continue heavy investments in AI and metaverse led to the steepest decline in stock price since October 2022. Zuckerberg's net worth fell to $152 billion as Meta's stock dropped by $52.12. The company's Reality Labs division has posted cumulative losses of $45 billion since 2020.


Sentiment: NEGATIVE

Tickers: META

Keywords: earningsbreaking newsstock marketsbusiness newstechnologymark zuckerbergbreaking news: technologymeta platforms inc

Source: https://www.cnbc.com/2024/04/25/mark-zuckerberg-net-worth-falls-18-billion-over-meta-earnings.html


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