Mark Zuckerberg’s net worth declined more than $71 billion in 2022

Facebook CEO Mark Zuckerberg speaks at Georgetown University in Washington, Thursday, Oct. 17, 2019. Federal regulators, Wednesday, July 27, 2022, took legal action to block Facebook parent Meta and CEO Mark Zuckerberg from acquiring virtual reality company Within Unlimited and its fitness app Supernatural, asserting the deal would hurt competition and violate antitrust laws. (AP Photo/Nick Wass, File)

The net worth of Meta CEO Mark Zuckerberg, once the third richest person on the planet, plummeted by more than 50% this year, knocking him down to the 20th spot on Forbes’ list of the world’s wealthiest.

Zuckerberg was worth a whopping $142 billion in September 2021, just one month before he introduced Meta and changed the company’s name from Facebook Inc. In the months since, things have gone down hill for the tech titan, whose net worth stood at around $55 billion Wednesday morning, according to the Bloomberg Billionaires Index.

Zuckerberg has seen his value decline by more than $71 billion in 2022 alone. Meta’s stock, which holds the bulk of his fortune, has also lost about 60% of its value in the same timeframe.

In February, just months after the Meta rebrand, Zuckerberg revealed Facebook’s numbers declined for the first time in its history.