Business
Mark Zuckerberg’s Wealth Plunges By $31 Billion After Meta Shock
Mark Zuckerberg’s wealth fell by $31 billion, one of the biggest one-day declines on record, after Meta Platforms Inc.’s fourth-quarter results fell short of analysts’ expectations.
Meta is in the midst of a historic slump in shares after Wednesday’s earnings showed that Facebook’s monthly users didn’t grow last quarter compared with the previous quarter, raising concerns about the company’s future growth. At 10:25 a.m. Thursday, stocks in New York fell 24%.
Meta’s sharp decline left Zuckerberg’s net worth at about $92 billion, down from $120.6 billion at Wednesday’s close, according to the Bloomberg Billionaires Index. That’s enough to keep the 37-year-old off the list of the world’s 10 richest people for the first time since July 2015.
A loss of $31 billion in wealth in one day would be the second-biggest loss from a drop in stock prices, after the volatility of Elon Musk’s fortune. The world’s richest man lost $35 billion in a single day in November as Tesla Inc shares asked voters in a Twitter poll whether they should sell their 10% stake in the company. His net worth also plummeted by $25.8 billion last week.
The co-founder of Meta is also facing an unprecedented decline in personal wealth. Dustin Moskovitz, the world’s 79th richest man with a net worth of $21.2 billion as of Wednesday, lost about $3 billion, while Eduardo Saverin, who is worth $17.5 billion ) lost more than $4 billion in value.
Meta Chief Operating Officer Sheryl Sandberg lost more than $100 million from her $2.5 billion personal wealth, according to data compiled by Bloomberg. However, Sandberg’s wealth is less concentrated in the company’s stock than Zuckerberg’s, softening the blow.
Complete News Source : NDTV
Business
Virat Kohli pays tribute to Ratan Tata, Jay Shah ‘deeply saddened’ by veteran industrialist’s demise
%20(3).jpg "Virat Kohli pays tribute to Ratan Tata, Jay Shah ‘deeply saddened’ by veteran industrialist’s demise")
Tributes continue to pour in for Ratan Tata, with Virat Kohli and Jay Shah taking to their social media accounts to bid farewell to the industrialist.
Former Indian captain and batting legend Virat Kohli paid a touching tribute to Ratan Tata, the legendary business tycoon, who passed away on Wednesday night. Tata, a Padma Vibhushan recipient, was undergoing treatment in intensive care since Monday but breathed his last in Mumbai, leaving a profound impact on many across the nation.
Kohli expressed his condolences through his Instagram account on Thursday morning, sharing a heartfelt message along with a photo of the late industrialist.
Tata’s contribution to business, society, and philanthropy has been widely acknowledged, and his passing marks the end of an era.
The Board of Control for Cricket in India (BCCI) secretary, Jay Shah, also conveyed his sorrow, stating, “Deeply saddened by the loss of Shri Ratan Tata Ji. His leadership, integrity, and dedication to society set a remarkable standard for legacy. My heartfelt condolences to his loved ones. Rest in peace, Sir.” Shah’s words reflect the collective grief of a nation that has long admired Tata’s contributions to the country.
BCCI’s tribute
Additionally, the BCCI issued a statement about his demise.
“The BCCI expresses its deepest sorrow and joins the nation in mourning the passing of Shri Ratan Tata ji. His invaluable contributions across diverse fields have been instrumental in shaping India’s growth and success story.
His extraordinary legacy, founded on the principles of passion, empathy, visionary leadership, innovation, and excellence, will continue to inspire and guide future generations for years to come,” the statement read.
Ratan Tata, born on December 28, 1937, in Mumbai, embarked on his journey with the Tata Group in 1962 as a young executive. Over the decades, he transformed the group into a global conglomerate. His work was acknowledged with India’s second-highest civilian honour, the Padma Vibhushan, in 2008, and he received numerous accolades, including honorary doctorates from prestigious institutions in India and abroad.
Tata is survived by his family, including brothers and sisters Simone Tata, Jimmy Tata, Noel Tata, Aloo Tata, Shireen Jejeebhoy, Deanne Jejeebhoy, Leah Tata, Maya Tata, Neville Tata, Manasi Tata, Jamset Tata, Tiana Tata, and others, as mentioned in a family statement.
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