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International Business News: Mark Zuckerberg experienced a significant decline in his wealth, with his net worth plummeting by $18 billion as Meta Platforms Inc.'s stock value dro
Earlier this month, the two billionaires switched positions when it was reported that Tesla’s car sales had declined in the three months through March.
Mark Zuckerberg's wealth plummeted by $18 billion due to Meta Platforms Inc.'s share decline, solidifying Elon Musk as the world's third-richest billionaire. Meta's stock dropped 11% after forecasting lower Q2 sales. Musk's fortune rose to $184 billion as Tesla shares surged, reversing their recent ranking switch.
Mark Zuckerberg’s fortune plunged US$18bil as shares of Meta Platforms Inc tumbled, allowing Tesla Inc’s Elon Musk to cement his status as the world’s third-richest billionaire.
Shares of Menlo Park, California-based Meta dropped the most since October 2022 on Thursday after the company increased spending estimates for the year and projected second-quarter sales that were below Wall Street’s expectations.