Mukesh Ambani lost more than what Mark Zuckerberg earned in 10 months, know how much net worth is now

Categories: World markets

Mukesh Ambani lost more than what Mark Zuckerberg earned in 10 months, know how much net worth is now

The company's earnings have not been up to expectations. Also, the company says that its digital ad business is not doing well, due to which there is a possibility of decline in sales in the coming days as well. Due to the fall in shares, the net worth of the company's CEO Mark Zuckerberg also declined by $ 11.2 billion or Rs 92,355 crore on Thursday. His net worth has declined by $87.8 billion this year. This is more than the net worth of Mukesh Ambani of Reliance Industries. According to the Bloomberg Billionaires Index, Ambani's net worth is $84 billion. With this fall, Zuckerberg has moved from 23rd to 28th in the list of the world's richest. Facebook's revenue declined for the third consecutive quarter. The company's Metaverse linked unit has also suffered billions of dollars in losses. This year it has lost $ 9 billion while from 2021 it has lost $ 20 billion. In the fourth quarter also, the company's revenue is expected to be 30 to 32.5 billion, which is below analysts' expectations. Thursday's fall brought Meta's market value down by $80 billion. Meta shares have fallen 67 per cent in one year. The company's market cap has fallen by $700 billion during this period. In September last year, the company's market cap was $1 trillion, which has now come down to $268 billion. Due to this Zuckerberg's net worth has also dropped significantly. Zuckerberg, once the world's third-largest rich, has now slipped to number 28. This year his net worth has declined the most. Meta has also been dropped from the list of top 20 companies in America.

Meta, out of the list of top 10 valuable companies in the world, the company was in sixth place.

Public Relations Webdesk. Tech giant Meta Platform Inc (Meta), formerly known as Facebook, has now dropped out of the list of the world's 10 most valuable companies and is now ranked 11th. After Tencent Holdings Ltd reached number 11. At one time the mcap of Meta Platforms had crossed $ 01 trillion and it used to be the sixth most valuable company in the world.

Facebook's mcap is halfway

Meta's mcap was at its peak in September last year. Since then the value of the company has come down to almost half. The company has suffered a loss of more than $500 billion in mcap. The company has recently been rebranded regarding Mark Zuckerberg's Metaverse plan and the parent company's name has been changed to Meta instead of Facebook. The company is also facing adverse conditions in the market due to the decline in the number of daily active global users for the first time.

List of top 10 companies

1. Apple $2.8 trillion

2. Microsoft $2.2 trillion

3. Saudi Arabian oil company Aramco $2 trillion

4. Google's parent company Alphabet $ 1.8 trillion

5. Amazon 1.6 trillion dollars

6. Tesla $905.7 billion

7. Berkshire Hathaway $700.6 billion

8. Nvidia $613 billion

9. TSMC $600.3 billion

10. Tencent $565.4 billion

Mukesh Ambani lost more than what Mark Zuckerbergearned in months, know how much net worth is now:

Meta Platforms, the parent company of Facebook,saw an almost 24% decline in share price. Earnings for the corporation havefallen short of forecasts. The corporation also claims that the state of itsdigital advertising business raises the likelihood of a drop in sales in thedays to come.

Due to the fall in shares, the net worth of thecompany’s CEO Mark Zuckerberg also the market fell by $11.2 billion or Rs92,355 crore. This year, his net worth dropped by $87.8 billion. This amountexceeds Mukesh Ambani of Reliance Industries' net worth. The BloombergBillionaires Index estimates that Ambani is worth $84 billion. With thisdecline, Zuckerberg's ranking among the world's richest people has dropped from23 to 28.

Revenue at Facebook fell for the third straightquarter. Additionally, the company's Metaverse-connected division lost billionsof dollars. It lost $9 billion this year while losing $20 billion from 2021.The company's revenue is anticipated to be between $30 and $32.5 billion in thefourth quarter, which is less than what analysts had predicted. The marketvalue of Meta decreased by $80 billion. Shares of Meta have decreased 67% inthe past year. Market capitalization of the corporation has decreased by $700billion over this time.

The company's market cap was $1 trillion inSeptember of last year; it is currently $268 billion. As a result, Zuckerberg'snet worth has also drastically decreased. Formerly the third-richest person inthe world, Zuckerberg is currently at number 28. His net worth has decreasedthe most in this year. Additionally, Meta has been removed off the top 20American firms ranking.