Mark Zuckerberg lost $22 bln of his fortune since Facebook was ‎renamed Meta

Mark Zuckerberg’s net worth has dropped from $118 billion to $96 billion since he rebranded Facebook as Meta.

Mark Zuckerberg announced nearly two years ago that Facebook had rebranded itself as Meta. The rebranding, according to Business Insider, reflects Meta’s decision to invest heavily in its metaverse business.

Zuckerberg was worth $118 billion on Oct. 28, 2021 — the day the Meta rebranding was announced — according to the Bloomberg Billionaires Index. As of Friday morning, his net worth is about $96.5 billion, based on the Bloomberg Billionaires Index.

However, even factoring in recent gains, that’s a loss on paper of close to $22 billion in the nearly two years since the rebranding was announced. While his net worth recovered from a low level of about $37 billion in October 2022, and on the first anniversary of bringing back the Mita brand. Meta’s stock collapsed late last year after the company reported missing-expected third-quarter earnings, and that came after months of losing hundreds of millions of dollars in valuation in the wake of another poor earnings report that included the first decline in Facebook user numbers in history.