India’s Billionaire industrialists Mukesh Ambani and Gautam Adani have now become richer than Mark Zuckerberg after the latter lost USD 29 billion in net worth as Facebook owner Meta Platforms Inc's stock marked a major one-day plunge.
Following the crash, Zuckerberg is in the twelfth spot on Forbes' list of real-time billionaires, below Ambani and Adani.
According to Forbes, 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. With this, Zuckerberg’s net worth came down to USD 85 billion.
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.
Last year, Zuckerberg sold USD 4.47 billion worth of Meta shares. 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.
Meanwhile, world’s third richest man Jeff Bezos was set to add USD 20 billion to his personal valuation after Amazon's blockbuster earnings. He owns about 9.9 per cent of the company.