American business magnate and internet entrepreneur, Mark Zuckerberg, has dropped from the list of the top ten American wealthiest people after losing $76.8 billion in one year.
The 38-year-old Facebook founder who lost more than half his fortune, $76.8 billion since September 2021 dropped from number three to number 11 on the Forbes 400 list of America’s wealthiest people, due to his company’s staggering stock price drop.
In October 2021, Facebook officially became Meta.
Meta’s Instagram and Facebook are also losing its middle age and teenage customers to TikTok. Facebook reported its first-ever quarterly loss of daily active users in February.
As of Tuesday, September 27, Zuckerberg’s net worth stands at $57.7 billion.
Zuckerberg became a billionaire in 2008 at the age of 23. He debuted on the Forbes 400 list at number 321 with a worth of $1.5 billion.
On the new Forbes 400 list, Elon Musk, worth $251 billion reigns supreme, Amazon founder Jeff Bezos, worth $151 billion and Microsoft founder Bill Gates, worth $106 billion compete for the top 3.
Software mogul Larry Ellison sits at number four with $101 million, just above investor Warren Buffet at $97 billion.
Alphabet co-founders Larry Page and Sergey Brin, who also saw their net worth drop, take the fourth and fifth spots.
Ex-Microsoft CEO Steve Balmer sits at number eight with a worth of $83 billion.
Other than Musk, the only other person in the top ten to see their fortune increase is Michael Bloomberg.
Jim Walton, the youngest son of Walmart founder, Sam Walton, rounds out the top ten with a worth of $57.9 billion.