How did Mark Zuckerberg Lose $16 Billion?

Mark Zuckerberg
Photo: Facebook

Mark Zuckerberg is having a hard time after getting so close to the sun. The founder of Facebook (now called Metaverse), who also owns Instagram and WhatsApp, spent years at the top of the list of the richest men in the world with a huge fortune that seemed to grow every year. However, he has now dropped 14 spots on the Bloomberg index after losing $17 billion. But how did he end up here? The answer might be that he is crazy about the metaverse.

A fall of Mark Zuckerberg

Mark Zuckerberg was not a well-known person before the Facebook security scandals, which forced him to testify before the US Congress. Now, however, he doesn’t seem to want to be in the public eye. Even though the internet doesn’t think much of him, let’s forget about his face to remember how important Meta is and how he wants to make a metaverse.

According to a Bloomberg report, Zuckerberg’s huge fall came after he changed the name of his company to Meta. Now, he can’t find a place in the kingdom he used to rule. Facebook and Instagram are losing popularity because young people mostly use TikTok and YouTube. In fact, plans have been made to make Facebook and Instagram more like new apps. After a recent change to Instagram’s interface, there was a lot of backlash, which led to the changes being canceled.

In February, the company didn’t gain any new users, which caused a huge drop in Facebook shares. However, an analyst at Needham & Co., Laura Martin, says that this is also because of the company’s recent investments in the metaverse. In fact, Zuckerberg has said that he thinks the company will lose a lot of money in the next few years, but that he hopes growth will come back once he has a plan. But it doesn’t look like there is a clear plan to do this.

Some people have said that Zuckerberg’s commitment to the metaverse is silly because it raises a lot of questions about global access and what he has shown so far doesn’t look very good. Other platforms are also working on their own versions of the metaverse. This makes us think that the world won’t live in a centralized metaverse like Zuckerberg imagines, but in different spaces, and that social networks could change in a bigger way.

So it will be time to keep watching Zuckerberg drop down the lists of millionaires, maybe for a long time.

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Sukanta Parthib is a Bangalee who became a successful entrepreneur. He is the founder, CEO, and Editor-in-Chief of Editorialge, ArticleIFY, and, Sukanta Parthib, whose real name is Sukanta Kundu, is a renowned Writer, Journalist, and Digital Marketer, and also a Poet. He has experience of more than 10 years as a digital marketer, especially an SEO Consultant. He has been working as a freelance writer and journalist for 15 years in various Bangladeshi media. For 23 years, he is writing poems, short stories, and novels. He has two published books that are related to Bengali Poems. Being an entrepreneur, Sukanta has been successfully leading the parent organization – EditorialGE and the other popular online portals to the top place in the world. He is enthusiastically seeking young and fresh writers, digital marketers, and business development strategics who can lead the world in the next future. He founded the EditorialGE on 30 October 2019 and since then he did not look back and has become successful in taking his organization to a new height and currently EditorialGE is one of the most authentic and credible websites in the world. He has a long-term plan to build a multinational company relating to fresh writers, expert digital marketers, content marketers, graphics designers, and skilled web developers. His life objective is to work for human beings, nature, and the environment. He loves reading, writing, researching, and traveling. As a human rights activist, he wants to work for deprived people for establishing equal rights and humanity.