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By Rodrigo Santos Andrade
Mark Zuckerberg loses $ 29.2 billion in one day as Meta stocks fall.
Facebook founder Mark Zuckerberg lost $29.2 billion in a single day after Meta’s stock fell 11% on Thursday, October 30th. Zuckerberg’s net worth dropped to $235.2 billion.
The devaluation was driven by the announcement of a $30 billion debt issuance to fund artificial intelligence research. Doubts about Meta’s growing AI budget left investors apprehensive.
At least two analysts downgraded the stock after the company projected spending up to $118 billion in capital expenditures this year. Before the fall, Meta’s shares had risen 28% in 2024.
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