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Mark Zuckerberg Is No Longer One Of The 10 Richest Americans

The Facebook CEO has lost more than half his fortune since last year.

Since September 2021, Zuckerberg has lost more than half of his wealth—an incredible $76.8 billion—falling to No. 3 on The Forbes 400 list of the United States.

The 11th richest persons. On this year's list, which utilised stock prices from September 2, Zuck, who is valued at $57.7 billion.

Behind other industry titans like former Microsoft CEO Steve Ballmer, Walmart heir Jim Walton, former New York City mayor Michael Bloomberg, and Google founders Larry Page and Sergey Brin.

He dropped out of the top 10 and can thank Meta's plummeting stock price for that. Since the Forbes 400 of last year, which used stock values as of September 3, 2021, shares have fallen by 57%.

The market downturn has typically affected tech firms, but Meta's collapse has outpaced that of the Nasdaq (-9.8%) and the S&P 500 (-13.5%), as well as Microsoft's 14% decline, Alphabet's 25% drop, and Amazon's 27% plunge.

A privacy policy tweak from Apple last year that made it more difficult for tech companies to monitor users across apps and had an effect on Meta's ad sales alarmed investors.

TikTok is drawing away advertisers, as well as valuable Gen Z and millennial users, which is making the problem for Meta worse. Meta reported its first-ever quarterly decline in daily active users in February.

Four years after launching Facebook, in 2008, Zuckerberg first hit the billion dollar mark. He debuted at No. 321 on The Forbes 400 at age 23 and was the youngest self-made billionaire at the time, with a net worth of $1.5 billion.

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