Mark Zuckerberg loses $100 Bn in 13 months
By MYBRANDBOOK
Facebook founder Mark Zuckerberg’s net worth fell $11 billion to $36 billion as the company’s shares dropped a day after it reported dismal quarterly earnings. In its third quarter earnings, the social media giant reported a 50% decline in profits and revenue sliding by 4%, far below analyst expectations.
Meta’s virtual and augmented reality division has lost a whopping $9.4 billion this year through September 30. The decline pulled Zuckerberg down from the 25th richest person to the 29th richest.
Zuckerberg said, “Look, I get that a lot of people might disagree with this investment. But from what I can tell, I think that this is going to be a very important thing, and I think it would be a mistake for us to not focus on any of these areas, which I think are going to be fundamentally important to the future.”
Meta stock was soaring high during the pandemic and reached its peak in September 2021, increasing Zuckerberg’s fortune to $136.4 billion. Since then, Meta’s stock price has slumped by 74% and Zuckerberg has lost $100 billion, nearly three-fourths of his fortune at its peak.
Singapore to remove One-Time Passwords from Bank Accounts
According to the Monetary Authority of Singapore, clients who utilise secur...
Is 375 million Airtel subscribers database breached?
When a hacker claims to have accessed and put up for sale a customer databa...
The government of India intends to construct a single portal f
A single portal will be launched by the Indian government to list all of it...
OpenAI offers GPT-4o, a faster model available to all users at
GPT-4o, a faster and more sophisticated AI model, is made available to all...
Icons Of India : NATARAJAN CHANDRASEKARAN
Natarajan Chandrasekaran (Chandra) is the Chairman of Tata Sons, the h...
Icons Of India : Dr. Arvind Gupta
Arvind Gupta is the Head and Co-Founder of the Digital India Foundatio...
Icons Of India : MADHABI PURI BUCH
Madhabi Puri Buch is the first-female chairperson of India’s markets...
GeM - Government e Marketplace
GeM is to facilitate the procurement of goods and services by various ...
C-DOT - Center of Development of Telematics
India’s premier research and development center focused on telecommu...
NIC - National Informatics Centre
NIC serves as the primary IT solutions provider for the government of ...
Indian Tech Talent Excelling The Tech World - Aman Bhutani, CEO, GoDaddy
Aman Bhutani, the self-taught techie and CEO of GoDaddy, oversees a co...
Indian Tech Talent Excelling The Tech World - Sanjay Mehrotra, CEO- Micron Technology
Sanjay Mehrotra, the President and CEO of Micron Technology, is at the...
Indian Tech Talent Excelling The Tech World - Vinod Dham, Founder & Executive Managing Partner, IndoUS Venture Partners
Vinod Dham, known as the “Father of the Pentium Chip,” has left an...