• Nigerian/African Tech
  • Start Up
  • Internet
    • App
    • Mobile
    • Software
  • Gadgets
  • Money
  • Video
Tech News, Magazine & Review WordPress Theme 2017
  • Home
  • Africa
  • Business
  • Video
  • Metaverse
  • AI
  • Gadgets
  • Earnings
  • Tips
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
  • Home
  • Africa
  • Business
  • Video
  • Metaverse
  • AI
  • Gadgets
  • Earnings
  • Tips
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
TechBooky
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Home Enterprise

24-Hour Record Plunge: Zuckerberg In $29 Billion Loss, Bezos Pockets $20 Billion

Ayoola by Ayoola
February 4, 2022
Share on FacebookShare on Twitter

There are contrasting fortunes for two of the world’s biggest billionaires if the new valuations are anything to go by.

Also On TechBooky

Microsoft In Major Shake-Off, Announces The Disengagement Of 10,000 Employees

Kenyan Fintech Startup, Kwara Raises $3 Million Seed Extension

Tunisia AI Startup, InstaDeep Acquired By Germany’s BioNTech For £582m

Agritech Startup, Releaf Completed Its Pre-Series A Funding With $3.3m

Ghana Based Logistics Startup Jetstream Secures $13m Pre-Series A

With Meta Inc platforms witnessing a record one-day plunge on Thursday, its founder and CEO, Mark Zuckerberg lost a whopping $29 dollars within 24 hours.

But Zuckerberg’s fate appears to be the opposite for Jeff Bezos with his personal net worth set to raise with $20 in the wake of his the blockbuster earnings from his company, Amazon Inc.

In the biggest ever one day market value wipe-out for a U.S. company, the stock of Meta Inc fell by 26 percent, losing more than $200 billion, and according to Forbes, the net worth of Mark Zuckerberg took a nosedive to $85 billion, with the Meta Inc helmsman owning about 12.8 percent of the social media giant.

According to Refinitiv data, Jezz Bezos, owns close to 10 percent of Amazon Inc, the company he founded and chairs, with Forbes placing him as the world’s third richest man.

The holiday-quarter profit of the e-commerce retailer rose as a result of Amazon’s investments in Rivian, an electric vehicle company. The company also announced the increment in annual prices of Prime subscriptions in the U.S., prompting its shares to go up by 15 percent in extended trading, its biggest percentage gain in 5 years.

Forbes placed Bezos’ net worth in 2021 to $177 billion, a 57 percent rise of his worth in 2020 and this can be explained with Amazon’s relative boom during the COVID-19 pandemic that forced citizens dependence on online shopping.

The 24-hour wealth decline of Mark Zuckerberg is the second biggest ever, coming after Elon Musk’s $35 billion single day paper loss in November 2021. The Tesla Inc CEO had infamously polled Twitter users, asking them if he should sell about 10 percent of his stake in Tesla. The announcement affected Tesla so badly that the electric car maker is yet to recover from the resulting selloff.

The $29 billion loss has now placed Zuckerberg  in the twelfth spot on Forbes’ list of real-time billionaires, below Indian business moguls Mukesh Ambani and Gautam Adani.

There is a possibility though that Zuckerberg’s net worth would rise as soon as possible, as the volatility of trading in technology stocks could well be of advantage especially with investors having to struggle price in the impact of high inflation and an expected rise in interest rates.

The Facebook Inc now Meta Inc CEO had last year sold about $4.47 billion worth of Meta shares, just before the 2021 tech rout, with the stock sales being carried out as part of a pre-set 10b5-1 trading plan.

One thing is for sure, his net worth won’t ever be static.

Related Posts:

  • Jeff Bezos Net Worth Briefly Hit $200b, First Person Ever To Achieve That But Closed At $196b
    Jeff Bezos Net Worth Briefly Hit $200b, First Person Ever To…
  • Tesla And SpaceX Founder Elon Musk Is Now Richest Person In The World
    Tesla And SpaceX Founder Elon Musk Is Now Richest Person In…
  • Facebook's Mark Zuckerberg Becomes The Third Person Ever To Hit The $100b Networth Mark
    Facebook's Mark Zuckerberg Becomes The Third Person Ever To…
  • Meta To Sack 11,000 Employees In It's First Broad Layoff
    Meta To Sack 11,000 Employees In It's First Broad Layoff
  • Amazon's Jeff Bezos Worth $145b Could Become World's First Trillionaire Soon
    Amazon's Jeff Bezos Worth $145b Could Become World's First…
  • Amazon Raked In Over $100b In Revenue In Q4 Of 2020
    Amazon Raked In Over $100b In Revenue In Q4 Of 2020
  • Elon Musk Lost $200b Of His Net Worth In About A Year
    Elon Musk Lost $200b Of His Net Worth In About A Year
  • Meta’s New VR Headset Will Launch In October, Says Zuckerberg
    Meta’s New VR Headset Will Launch In October, Says…
Tags: billionaireMark Zuckerbergstock
Ayoola

Ayoola

Ayoola Faseyi, an Abuja based Journalist with interest in Technology and Politics. He is a versatile writer with articles in many renowned News Journals. He is the Co-Founder of media brand, The Vent Republic.

BROWSE BY CATEGORIES

Receive top tech news directly in your inbox

Loading

Recent

Tesla Cybertruck Mass Production Won’t Start Until 2024

Tesla Cybertruck Mass Production Won’t Start Until 2024

January 27, 2023
Apple Reportedly Delays Development Of Its Own WiFi Chips

Apple Reportedly Delays Development Of Its Own WiFi Chips

January 27, 2023
Google Commits To Complying With EU Laws On Its Services

Google Commits To Complying With EU Laws On Its Services

January 27, 2023
Airtel Launches Its eSIM Technology In Nigeria

Airtel Launches Its eSIM Technology In Nigeria

January 27, 2023
In Spite Of The Sucess Of Genetically Modified Foods, Debates Abound

In Spite Of The Sucess Of Genetically Modified Foods, Debates Abound

January 27, 2023
How And How Not Gaming Can Be Used In Solving Real Problems

How And How Not Gaming Can Be Used In Solving Real Problems

January 27, 2023
Tesla Sues Former Employee For Allegedly Stealing Trade Secrets

Tesla Made The Most Money In 2022, But Its Future Still Rocky

January 26, 2023
Shutterstock Introduces Its Generative AI Image Tool

Shutterstock Introduces Its Generative AI Image Tool

January 26, 2023
Meta Agrees To $725M Settlement Of Cambridge Analytica Lawsuit

Meta Set To Reinstate Trump’s Facebook And Instagram Accounts

January 26, 2023
Here’s How ChatGPT Can Help Improve Your SEO

Here’s How ChatGPT Can Help Improve Your SEO

January 25, 2023

Browse Archives

January 2023
MTWTFSS
 1
2345678
9101112131415
16171819202122
23242526272829
3031 
« Dec    

About Us

TechBooky

TechBooky is a social Tech blog with a special focus on the budding African Technology sector. TechBooky is currently based in Abuja, Nigeria.

Subscribe to TechBooky

Enter your email address to subscribe to TechBooky and receive notifications of new posts by email.

Join 24 other subscribers.

Receive top tech news directly in your inbox

Loading

Popular Tags

AI (252) amazon (95) android (281) app (610) Apple (473) artificial intelligence (265) business (338) china (113) cloud (135) cryptocurrency (158) ecommerce (109) enterprise (239) facebook (472) gadget (448) gaming (160) google (545) government (381) guest post (108) instagram (137) internet (352) ios (249) iphone (210) microsoft (261) mobile (281) new feature (287) nigeria (276) privacy (135) research (134) samsung (139) security (374) smartphone (235) social media (671) software (415) startup (268) streaming (140) telecom (157) tips (340) transport (104) twitter (216) united states (191) users (132) videos (115) website (159) whatsapp (129) youtube (106)

Quick Links

  • Home
  • Africa
  • Business
  • Video
  • Metaverse
  • AI
  • Gadgets
  • Earnings
  • Tips

Popular Post

  • Trending
  • Comments
  • Latest
Download Free Editable Resume Templates – Word / Docx – 2022

Download Free Editable Resume Templates – Word / Docx – 2022

July 25, 2022
The Best Free PC Games

The Best Free PC Games

July 29, 2022
Recover Permanently Deleted Emails From iCloud Manually

Recover Permanently Deleted Emails From iCloud Manually

March 5, 2022
Resume and Cover letter Templates for free

Resume and Cover letter Templates for free

July 25, 2022
[Fixed] “Outlook Running Slow Windows 10” Issue

[Fixed] “Outlook Running Slow Windows 10” Issue

February 12, 2020
How is Technology Changing Our Definition of What It Means to Be a Human?

How is Technology Changing Our Definition of What It Means to Be a Human?

April 1, 2018
Tesla Cybertruck Mass Production Won’t Start Until 2024

Tesla Cybertruck Mass Production Won’t Start Until 2024

January 27, 2023
Apple Reportedly Delays Development Of Its Own WiFi Chips

Apple Reportedly Delays Development Of Its Own WiFi Chips

January 27, 2023
Google Commits To Complying With EU Laws On Its Services

Google Commits To Complying With EU Laws On Its Services

January 27, 2023
Airtel Launches Its eSIM Technology In Nigeria

Airtel Launches Its eSIM Technology In Nigeria

January 27, 2023
In Spite Of The Sucess Of Genetically Modified Foods, Debates Abound

In Spite Of The Sucess Of Genetically Modified Foods, Debates Abound

January 27, 2023
How And How Not Gaming Can Be Used In Solving Real Problems

How And How Not Gaming Can Be Used In Solving Real Problems

January 27, 2023

Recent News

Tesla Cybertruck Mass Production Won’t Start Until 2024

Tesla Cybertruck Mass Production Won’t Start Until 2024

January 27, 2023
Apple Reportedly Delays Development Of Its Own WiFi Chips

Apple Reportedly Delays Development Of Its Own WiFi Chips

January 27, 2023
Google Commits To Complying With EU Laws On Its Services

Google Commits To Complying With EU Laws On Its Services

January 27, 2023
Airtel Launches Its eSIM Technology In Nigeria

Airtel Launches Its eSIM Technology In Nigeria

January 27, 2023
In Spite Of The Sucess Of Genetically Modified Foods, Debates Abound

In Spite Of The Sucess Of Genetically Modified Foods, Debates Abound

January 27, 2023
How And How Not Gaming Can Be Used In Solving Real Problems

How And How Not Gaming Can Be Used In Solving Real Problems

January 27, 2023
  • About TechBooky
  • Submit Article
  • Advertise Here
  • Contact us
  • Privacy Policy
  • Disclaimer
  • Login

© 2021 Design By Tech Booky Elite

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
  • Home
  • Africa
  • Business
  • Video
  • Metaverse
  • AI
  • Gadgets
  • Earnings
  • Tips

© 2021 Design By Tech Booky Elite