Mark Zuckerberg Has Lost $70 Billion in Net Worth

Mark Zuckerberg has had some bad news of late…

This comes after it revealed possible plans to lay off underperforming workers.

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Now, Facebook is truly the original social media giant.

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Founded in 2004 in Cambridge, Massachusetts, it is considered one of the Big Four media conglomerates, along with Amazon, Apple and Google.

For a long time, it dominated the Internet.

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In the early 00s, almost everyone was addicted to Facebook, spending hours writing on each other’s walls and “cheating” on each other.

The foundation of the platform has become something of a legend.

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2010 biographical drama film, Social Network, Harvard student Mark Zuckerberg tells the story of how he founded the company. The film stars Jesse Eisenberg, Andrew Garfield, Armie Hammer and Justin Timberlake.

Over the years, Zuckerberg has proven himself to be a shrewd businessman.

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And one of the areas where the Facebook empire has truly excelled is through smart acquisition choices.

In April 2012, Facebook acquired Instagram.

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The purchase cost a billion dollars and is one of the most expensive social media deals ever. But it’s clear that it paid dividends, as Instagram has only grown in popularity since 2012.

And that wasn’t his only smart purchase.

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In 2014, Facebook acquired the chat platform, WhatsApp, for nineteen billion dollars. wow

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By adding suffixes to their names.

When loading the likes of Instagram and WhatsApp, users will now see a “From Facebook” suffix at the bottom.

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Just so we don’t forget who owns them, right?

Some suspect that there is a specific reason for the change.

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He believes Facebook is hoping to use its sister companies, Instagram and WhatsApp, as a way to score some cool points.

As a result of their dominance in the world of social media…

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Zuckerberg’s success continues to grow and so does his wealth.

This made Zuckerberg a centi-billionaire.

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Which means his luck has crossed 100. A billion dollar, Guardian Reports

He joins the ranks of Jeff Bezos and Bill Gates.

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This is indeed a huge amount of wealth.

The news of Zuckerberg’s wealth status comes after he announced that he will launch a rival to TikTok.

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An alternative to Tik Tok is Instagram Reels.

Afterward, Zuckerberg made major changes to his social media empire as he announced a rebranding of the company.

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“Facebook” is now known as Meta which is apparently linked to the company’s plans to create a virtual reality.The Metaversewhich is currently in development.

The social media platform still carries the old name Facebook, it’s just that the company has rebranded…

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“Today we’re seen as a social media company, but our DNA is building technology to connect people,” Zuckerberg said, “and Metaverse is the next frontier.”

Despite the new moves, things don’t seem to be going too well for Zuckerberg, as the company’s stock is down more than half this year alone.

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Because of this, the CEO has revealed plans to cut workers who don’t meet the new standards set by Zuckerberg. Reports.

During a Q&A on June 30, the CEO said the stock flop “could be one of the worst downturns we’ve seen in recent history,” and cited it as a reason for cost-cutting.

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And Zuckerberg has had more bad news…

Bloomberg suggests that the beginning of the meta is the beginning of the end for Zack.

His wealth dropped to $55.9 billion from previous highs of $142 billion!

what do you think

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