Facebook loses $237BN in largest one-day drop in stock market HISTORY: Zuckerberg warns staff he might CRY over 'scratched eye' as shares fall 26% - dragging Nasdaq down 3.7% - and he drops out of Forbes ten richest after users decline


Facebook CEO Mark Zuckerberg told his employees to focus on video products and warned that he might cry from a scratched eye during a virtual company-wide meeting Thursday after the social media giant lost $237 billion - the biggest single-day loss ever recorded.

Shares in Facebook owner Meta fell 26 percent Thursday when the markets closed, after the social media giant issued a dismal forecast and reported its first decline in daily active users. Zuckerberg saw at least $29.7 billion erased from his net worth.

The tech titan was the world's seventh wealthiest person on Wednesday, with a net worth of $113.1billion. But by market close on Thursday, he dropped off Forbes' top 10 list of billionaires - to No. 12 - as his personal net worth plunged to $83.4 billion.

Facebook's stock closed the day at $237.76 per share, sparking fear in international markets and pulling the tech-heavy Nasdaq down by 3.74 percent

Zuckerberg told his employees that the drop was due to a weak revenue forecast as the company faces an 'unprecedented level of competition' from TikTok, owned by Chinese company ByteDance.

The 37-year-old billionaire wore glasses and looked red-eyed, a person who attended the meeting told AdAge. Zuckerberg allegedly told his employees that he might tear up because he scratched his eye, and not because of the share drop.

Souce:
https://www.dailymail.co.uk/news/article-10473475/Facebook-stock-plunges-24-rattling-world-markets-dragging-Nasdaq-2.html?ito=social-facebook

meta platforms are generally going down. This dude is so lucky his platforms lasted this long period. he should be celebrating and modifying them. We are greatful

New meme has landed.


And markzukerberg weep's.

Criminal

Him go come back.... That I know.

Times of Trials

Facebook (Meta) is gone but the losses can be mitigated with WhatsApp and Instagram's earnings. Although Facebook is still the most used social media till date, the number of active users have significantly dropped. The new Gen Z and Gen Alpha have chosen Tiktok and there's nothing Mark can do about it.