Mukesh Ambani Gautam Adani richer than Mark Zuckerberg Facebook Meta

Billionaire industrialists Mukesh Ambani and Gautam Adani are now richer than Mark Zuckerberg. This happened after Zuckerberg lost USD 29 billion in net worth on Thursday as Facebook owner Meta Platforms Inc’s stock marked a record one-day plunge.

Following the USD 29 billion wipeout, Zuckerberg is in the twelfth spot on Forbes’ list of real-time billionaires, below the Reliance Industries Ltd chairman and the founder of the Adani Group, according to a Reuters report.

META STOCK DOWN

Meta’s stock fell 26 per cent, erasing more than USD 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 USD 85 billion, according to Forbes.

Zuckerberg owns about 12.8 per cent of the tech behemoth formerly known as Facebook.

BIGGEST ONE-DAY DECLINE

Zuckerberg’s one-day wealth decline is among the biggest ever and comes after Tesla Inc top boss Elon Musk’s USD 35 billion single-day paper loss in November. Musk, the world’s richest person, had then polled Twitter users if he should sell 10 per cent of his stake in the electric carmaker. Tesla shares have yet to recover from the resulting selloff.

Zuckerberg sold USD 4.47 billion worth of Meta shares last year, before 2021’s tech rout. The stock sales were carried out as part of a pre-set 10b5-1 trading plan, which executives use to allay concerns about insider trading.

JEFF BEZOS GAINS

Meanwhile, billionaire Jeff Bezos was set to add USD 20 billion to his personal valuation after Amazon’s blockbuster earnings.

Bezos, the founder and chairman of e-commerce retailer Amazon, owns about 9.9 per cent of the company, according to Refinitiv data. He is also the world’s third richest man, according to Forbes.

ALSO READ | Crypto Tax: Pay income tax for cryptocurrency transactions done before April 2022