Mark Zuckerberg drops in billionaire ranks after losing $29B in single day as Meta stock tanks

Tough Day for Mark Zuckerberg

Mark Zuckerberg’s fortunes took a hit as he slipped from third to fifth place on the Bloomberg Billionaires Index. Meta’s stock plummeted by 11%, causing a loss of $29.2 billion in just one day for the 41-year-old CEO.

Zuckerberg’s net worth now stands at $235.2 billion, his lowest ranking in nearly two years, following Meta’s decision to issue $30 billion in new debt to fuel artificial intelligence initiatives.

The significant drop in value was the fourth-largest one-day loss ever recorded by Bloomberg’s wealth index. The market reaction stemmed from Meta’s plan to increase its total expense forecast for 2025 to $118 billion, with a substantial portion allocated to AI infrastructure expansion.

Investors were concerned about Meta’s financial stretch with the $30 billion bond offering, fearing it might allow competitors to gain ground in AI-driven advertising.

Despite the setback, Zuckerberg has made headlines for his extravagant purchases, including a $300 million yacht and multiple luxury properties. His Hawaiian estate, complete with a security system and tunnel network, showcases his penchant for privacy and opulence.

While Meta’s shares were down by almost 2% the following day, Zuckerberg has remained silent on the market downturn. The Post has reached out to Meta for comment.