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."
No comments:
Post a Comment