Mark Zuckerberg’s net worth fell by nearly $5 billion on Thursday as Meta shares declined, following reports that a portion of the company’s revenue comes from running ads linked to scams.
Key Facts
Meta shares dropped 2.3% to about $620.75 Thursday morning, adding to a roughly 17.5% decline over the past week, which included a single-day fall of more than 11% after Meta reported its third-quarter earnings.
Zuckerberg, who owns roughly 13% of Meta, saw his net worth decrease by $4.6 billion, or 2.1%. Previously ranked as the world’s third-richest person, he now falls behind Jeff Bezos ($257 billion), Larry Page ($235 billion), and Sergey Brin ($217.9 billion).
Why Meta Shares Are Down
Reuters reported, citing internal company documents, that Meta projected 10% of overall revenue—around $16 billion—would come from running ads for scams and banned goods. Meta spokesperson Andy Stone stated the report “presents a selective view” and noted the company’s internal estimates were lower, with many of the ads being legitimate. The documents also indicate that Meta is under SEC investigation for running ads linked to financial scams. Regulators in the U.K. reported that in 2023, Meta was involved in 54% of all payment-related scam losses—more than double any other social platform.
Key Background
Meta’s stock had rebounded after hitting a low in April but has declined recently. The recent drop followed third-quarter earnings that showed $1.05 per share, falling 84% below projections due to a one-time $15.9 billion tax charge under former President Trump’s One Big Beautiful Bill Act. Meta said adjusted earnings per share would have been $7.25 without the tax. The company also raised its capital expenditure guidance from $66–$72 billion to $70–$72 billion as it prepares for the arrival of superintelligence.
