All in a day: Zuckerberg loses $29bn, Bezos set to pocket $20bn

New York (TIP)-Mark Zuckerberg lost $29 billion in net worth on Thursday, Feb 3,  as Meta Platforms Inc’s stock marked a record one-day plunge, while fellow billionaire Jeff Bezos was set to add $20 billion to his personal valuation after Amazon‘s blockbuster earnings.

Meta’s stock fell 26%, erasing more than $200 billion in the biggest ever single-day market value wipeout for a US company. That pulled down founder and chief executive officer Zuckerberg’s net worth to $85 billion, according to Forbes.

Zuckerberg owns about 12.8% of the tech behemoth previously often known as Facebook.

Bezos, the founder and chairman of e-commerce retailer Amazon, owns about 9.9% of the corporate, based on Refinitiv knowledge. He’s additionally the world’s third richest man, based on Forbes.

Amazon’s holiday-quarter revenue surged, due to its investments in electrical car firm Rivian; and the corporate mentioned it will hike annual costs of Prime subscriptions in america, sending its shares up 15% in prolonged buying and selling and readying it for its greatest share achieve since October 2009 on Friday.

Bezos’ internet price rose 57% to $177 billion in 2021 from a yr earlier, based on Forbes, largely from Amazon’s increase through the pandemic when folks had been extremely depending on on-line procuring.

Source: Reuters

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