Meta has seen the value of its stock dip by more than 65% from the start of this year. As of Tuesday, it was trading at around $117 a share.
The company, which is pivoting from its bread-and-butter business model of relying on advertising on its social media platforms Facebook and Instagram, has burned through its cash reserves as part of Zuckerberg’s massive bet on the metaverse.earned $4.4 billion, or $1.64 per share , in the three-month period that ended Sept. 30. That’s down 52% from, $9.19 billion, or $3.22 per share, in the same period a year earlier.
Revenue fell 4% to $27.71 billion from $29.01 billion, slightly higher than the $27.4 billion that analysts had predicted.Sergey Brin, co-founder of Google, has lost tens of billions of dollars in the last year.Page and Brin, who are no longer with the company on a day-to-day basis, still own a special class of voting shares. As of Tuesday, Page was the 10th richest person in the world with a net worth of $83.8 billion,Gates is the fourth richest person in the world.
Ballmer was the eighth-richest person in the world as of Tuesday. His net worth was valued at $85.5 billion, according to Bloomberg Billionaires Index.
gtconway3d Awwww! 😢
gtconway3d Oh so sad. My heart bleeds. NOT
gtconway3d Where is Kanye and Trump?
Wait the worse is yet to come
All of these guys will be back richer and stronger in 2024/25. We’ll be the idiots to have missed the buying opportunities in their stocks today. Just like we did in 2009.
gtconway3d Works for me.
Cry. Me. A. River.
gtconway3d 👏👏👏
Can we eat them and disperse their wealth?
gtconway3d A drop in their buckets …
gtconway3d Poor babies! Should we set up go fund me accounts for them?
Oh no
This guy Shorted $TSLA in May...
gtconway3d My heart bleeds for them. 🙄 My pension didn’t lose quite that much …cough cough….and I’ll probably have to sell my house.
You win some, you lose some! They’ll be right.
Imaginary money if america fall or dollars collapse they can't be rich in less than five year's they be broke or bankrupt
Wtf does this even mean
gtconway3d Oh, I'm guessing they'll get by
gtconway3d And it won't impact the lifestyles of anyone of them.
Awwww, poor babies.
Not enough
Pity it wasn't more.
it was money they never had
I’m betting none of them sold much of their stock this year- so they have lost nothing. Stupid headline.
Oh no, I guess they will pay less in taxes next year when they take the write offs for these loses. Then the story will be they paid no income tax. Oh my, I see it coming.
gtconway3d
To quote the words of the enlightened Dalai Lama, 'FuckEm'
diamondsnsilk Douche bags of the Apocalypse.
My heart is broken
At least one of them shot themselves in the foot.
Government checks stop showing up?
gtconway3d And still multi billionaires!
Buy low. Sell high.
gtconway3d Oh no! What are they gonna do now? How will they survive?
gtconway3d Walmart got for me for a double ring for $13 but their 7 day refund policy tripped me up. Funny if I use the self checkout and under ring they prosecute to the full extent of the law. We've all lost money.
And still have 2X more of that. No one is crying for them.
gtconway3d Good
gtconway3d Hey.gtconway3d now start talking about how regular people are getting crushed by your guy,the big guy!You lacked the nuts to talk on Joe Biden's awful racist past yet call Trump and Republicans racist and you're silent again on record inflation,higher gas,food.crushed 401k's,etc
gtconway3d They should never have had it to lose. End billionaires. Tax them into the ground.
BernieSanders FYI...
haha losers!
gtconway3d Zuckerberg doesn’t even look like a real person in that photo. Maybe it’s his avatar from the metaverse. 🥴
Has their quality of life declined significantly? No? Good. Next time we'll make them pay $433B in taxes.
I am not really distraught! $TSLA
Let’s assume each owns 20% of their respective companies. That means little guys who invested in their companies lost more than $1.7 trillion. That should be the real story.
Now do the American population and retirees
*Wipes away tears with $100 bills*
I hope the content creators get wiped soon
The good majority of them are shills for the commie Democrats. I wish they would lose more money. They deserve to bear the brunt of the market losses.
Everyone except Elon musk needs to lose more
Same
Nice
¯\\_(ツ)_/¯
GodandtheBear I hope they all go broke and lose their will to live.
its not real money its just on paper. Look at how kanye dropped down by $1.6B just cause Adidas dropped him. he never had that money. Its speculative
Biden's 401k Reduction Act is hurting average Americans too.
Awesome!
Did they send it to Ukraine?
Good.
Where did it all go?
Trump voter's