Posted on 11/01/2025 1:46:37 PM PDT by Libloather
Tough luck, Zuck!
Mark Zuckerberg tumbled from third to fifth place on the Bloomberg Billionaires Index after Meta’ stock plunged 11% on Thursday — wiping out $29.2 billion from his fortune in just one day.
The 41-year-old CEO’s net worth fell to $235.2 billion, his lowest ranking in nearly two years, as investors recoiled from Meta’s plan to issue $30 billion in new debt to fund artificial intelligence spending, according to Bloomberg.
The drop was the fourth-largest one-day market-driven loss ever recorded by Bloomberg’s wealth index.
Zuckerberg reportedly refused to clap Wednesday after singer Billie Eilish said at the Wall Street Journal Magazine Innovator Awards that billionaires should “give your money away.”
Meta’s steepest stock selloff since 2022 followed the company’s announcement that it would raise its total expense forecast for 2025 to as much as $118 billion — including up to $72 billion in capital expenditures — to expand its AI infrastructure, with even higher spending anticipated in 2026.
The staggering outlay triggered at least two analyst downgrades, with some warning that Meta’s AI ambitions could squeeze profits.
Zuckerberg, who saw his net worth soar by $57 billion earlier this year as Meta shares rose 28%, was leapfrogged by Amazon founder Jeff Bezos and Google co-founder Larry Page.
Tesla CEO Elon Musk sits comfortably atop the billionaires ranking, followed by Oracle co-founder Larry Ellison.
(Excerpt) Read more at nypost.com ...
My prediction? Pasty White Boy is going to be VERY popular in prison one day. ;)
And furthermore, those quarter-year wondercamps do NOT give a person real experience. I have 30+ years in the field (among many others) and I have knowledge and techniques that would bury any of those wondercamp graduates.
“And on top of that, he can’t get SNAP benefits right now!”
ROFLMAO!
If Zuckerberg sells all his stock in Meta it would create panic selling and the shares would collapse and a company that's stock is worthless doesn't fare well or remain alive for long. That's the difference.
“...and I have knowledge and techniques...”
Expand upon that. Maybe I *WILL* make you a sandwich after all.
LOL, My FRiend ;)
“Getting a worldwide user community of hundreds of millions would be almost impossible.”
Use our ultrafast browser....
“...Google co-founder Larry Page”
Just answer a few questions about your purchasing needs to fully access this webpage.
He is probably trying to avoid the 2026 California billionaire tax!
interesting that meta didn’t have enough R&D resources in reserve for AI development and had to borrow $30 billion instead ...
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