For the first time in history, Facebook’s parent company Meta on Wednesday reported a dramatic loss in its earnings in the 4th Quarter ending December 2021. The plunge in the earnings came as the number of daily users dropped from 1.93 billion to 1.929 billion. The list mainly comprised of users from North America. Across other platforms of Meta, a flat user curve was observed stated, reports. A loss of $29 billion in net worth in one day was reported by analysts.
Meta’s steep declines pushed Zuckerberg, the company’s CEO with a net worth of about $ 92 billion down from $ 120.6 billion as the markets closed on Wednesday. This loss pushed the 37-year-old outside the list of the top 10 wealthiest people in the world. According to an analysis by Forbes, India’s Adani and Ambani are now richer Meta’s founders. Adani has now entered the list of the top ten richest in the world after Zuckerberg slipped out of the list.
Ever since its launch in 2004, this drop in the daily users was recorded for the first time. Several reasons like misinformation, hate speech promotion, target content have been speculated to be some issues that might have disengaged users.