Mark Zuckerberg Drops Out Of Top 10 Richest Men In US
Zuckerberg has lost more than half of his money, totaling a startling $76.8 billion, since September 2021, according to the American business magazine Forbes 400.
By Omotayo Olutekunbi
According to Forbes, Mark Zuckerberg, the chief executive officer (CEO) of Meta (previously Facebook), has slid out of the top ten richest men in the United States.
Apparently, Zuckerberg has lost more than half of his money, totaling a startling $76.8 billion, since September 2021, according to the American business magazine Forbes 400, which published the information on Tuesday.
The online entrepreneur fell from third place to number 11, according to Forbes, marking the first time since 2015 that he has endured such a decline.
The owner of the company has suffered as a result of Facebook’s present inability to generate revenue through advertising, according to Mark Zgutowicz, an analyst with research and investment banking firm Benchmark.
“Facebook makes most of its money from advertising, and now it just doesn’t have that data anymore. All those data signals went away, which basically means that advertisers are having trouble telling whether a campaign was successful or not,” Zgutowicz said.
Four years after launching Facebook, in 2008, Zuckerberg first hit the billion-dollar mark. When he debuted at No. 321 on The Forbes 400 with a $1.5 billion net worth at age 23, he was the youngest self-made billionaire ever.
But by 2011, Zuckerberg’s wealth had nearly multiplied by 12 to reach $17.5 billion.
Elon Musk, the CEO of Tesla, topped the Forbes list of richest Americans thanks to his 11% increase in the estimated $60.5 billion he added this year.
Bill Gates and Jeff Bezos, the founders of Microsoft and Amazon, respectively, are ranked second and third in terms of wealth.
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