- Meta Zuckerberg has introduced a new form of Internet discussion at Meta, which has also made some money for other companies.
However, this is not as good as the change for Meta. Instead, Meta lost $10 billion to the Metaverse in the last three months of 2021. This was just the beginning of the massive undertaking the company was aiming to take on, but the market reacted violently, sending the company’s value down by $200 billion by mid-afternoon.
Quarterly results again showed that the company’s flagship Facebook also lost its users for the first time in its 18-year history. Meta At Meta, Zuckerberg pioneered a new type of Internet discussion that has generated revenue for other companies. This, however, is not as good as the change for Meta. Instead, in the last three months of 2021, Meta lost $10 billion to the Metaverse.
This was only the beginning of the company’s massive undertaking, but the market reacted violently, sending the company’s value down by $200 billion by mid-afternoon. According to quarterly results, the company’s flagship Facebook lost users for the first time in its 18-year history.
Metaverse-based outcomes
The stock market has been volatile and unsettling since the beginning of 2022, and the situation has not been favorable for Meta and its peers. Apple, the world’s most valuable company, saw its stock price rise 14 percent.
Amazon fell 26%, while Alphabet, Google’s parent company, fell 29%. Meanwhile, Meta’s situation has been quite dire, with the cryptocurrency losing up to 57% of its value. Zuckerberg owns 350 million shares in the company, and his wealth is based on the stock price, so the decline hit him hard. Zuckerberg was worth approximately 106 billion US dollars about two years ago. In September, the stock price of Facebook reached an all-time high of $382, valuing his fortune at $142 billion.
Zuckerberg owns 350 million shares in the company, and his wealth is based on the stock price, so the decline hit him hard. Zuckerberg was worth approximately 106 billion US dollars about two years ago. According to Bloomberg, Facebook’s stock price reached an all-time high of $382 in September, valuing his fortune at $142 billion.
Last year, Zuckerberg fell to 14th place in the world’s richest list, and he now ranks 20th. Bloomberg believes that this is due to the company’s foray into virtual reality (Metaverse), and believes that if Metaverse had not been created, it could have fallen as low as Alphabet. Experts believe that Meta can still help in the long run due to the company’s purchase of WhatsApp and Instagram. Some believe that it is dependent on Meta’s leadership and that it requires a complete overhaul. If not, some believe that the company itself may fail.
