by Yotivationnation @ Minds.com
Are we not living in Exciting Times...Anyone need a refill on thier popcorn...
"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."