All in a day: Zuckerberg loses $29 billion, Bezos set to pocket $20
billion
Send a link to a friend
[February 04, 2022] By
Eva Mathews and Nivedita Balu
(Reuters) -Mark Zuckerberg lost $29 billion
in net worth on Thursday as Meta Platforms Inc's stock marked a record
one-day plunge, while fellow billionaire Jeff Bezos was set to add $20
billion to his personal valuation after Amazon's blockbuster earnings.
Meta's stock fell 26%, erasing more than $200 billion in the biggest
ever single-day market value wipeout for a U.S. company. That pulled
down founder and Chief Executive Officer Zuckerberg's net worth to $85
billion, according to Forbes.
Zuckerberg owns about 12.8% of the tech behemoth formerly known as
Facebook.
Bezos, the founder and chairman of e-commerce retailer Amazon, owns
about 9.9% of the company, according to Refinitiv data. He is also the
world's third richest man, according to Forbes.
Amazon's holiday-quarter profit surged, thanks to its investments in
electric vehicle company Rivian; and the company said it would hike
annual prices of Prime subscriptions in the United States, sending its
shares up 15% in extended trading and readying it for its biggest
percentage gain since October 2009 on Friday.
Bezos' net worth rose 57% to $177 billion in 2021 from a year earlier,
according to Forbes, largely from Amazon's boom during the pandemic when
people were highly dependent on online shopping.
![](http://archives.lincolndailynews.com/2022/Feb/04/images/ads/current/fricke_sda_LUAL_2021.png)
[to top of second column] |
![](../images/020421pics/busine5.jpg)
Facebook Chairman and CEO Mark Zuckerberg testifies at a House
Financial Services Committee hearing in Washington, U.S., October
23, 2019. REUTERS/Erin Scott
![](http://archives.lincolndailynews.com/2022/Feb/04/images/ads/current/chicagost_lda_LUAL_2021.png)
Zuckerberg's one-day wealth decline is among the biggest ever and comes after
Tesla Inc top boss Elon Musk's $35 billion single-day paper loss in November.
Musk, the world's richest person, had then polled Twitter users if he should
sell 10% of his stake in the electric carmaker. Tesla shares have yet to recover
from the resulting selloff.
Following the $29 billion wipeout, Zuckerberg is in the twelfth spot on Forbes'
list of real-time billionaires, below Indian business moguls Mukesh Ambani and
Gautam Adani.
To be sure, trading in technology stocks remains volatile as investors struggle
to price in the impact of high inflation and an expected rise in interest rates.
Meta shares could very well recover sooner rather than later, with the hit to
Zuckerberg's wealth staying on paper.
Zuckerberg sold $4.47 billion worth of Meta shares last year, before 2021's tech
rout. The stock sales were carried out as part of a pre-set 10b5-1 trading plan,
which executives use to allay concerns about insider trading.
(Reporting by Eva Mathews, Akash Sriram and Chavi Mehta in Bengaluru; Editing by
Devika Syamnath and Aurora Ellis)
[© 2022 Thomson Reuters. All rights
reserved.]This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content. |