Meta’s Reality Labs Reports $3.85B Loss in Q1 2024, META Stock Tumbles 19%
Soon after the earnings call on Wednesday, April 24, the META share price stumbled nearly 19% wiping out more than $200 billion in the company’s market cap.
American technology entrepreneur and philanthropist.
Mark Elliot Zuckerberg is an American technology entrepreneur and philanthropist. Zuckerberg is known for co-founding and leading Facebook as its chairman and chief executive officer. He also co-founded and is a board member of the solar sail spacecraft development project Breakthrough Starshot.
Born in White Plains, New York, Zuckerberg attended Harvard University, where he launched Facebook from his dormitory room on February 4, 2004, with college roommates Eduardo Saverin, Andrew McCollum, Dustin Moskovitz, and Chris Hughes. Originally launched to select college campuses, the site expanded rapidly and eventually beyond colleges, reaching one billion users by 2012. Zuckerberg took the company public in May 2012 with majority shares. His net worth is estimated to be $55.0 billion as of November 30, 2018, declining over the last year with Facebook stock as a whole. In 2007 at age 23 he became the world’s youngest self-made billionaire. As of 2018, he is the only person under 50 in the Forbes ten richest people list, and the only one under 40 in the Top 20 Billionaires list.
Since 2010, Time magazine has named Zuckerberg among the 100 wealthiest and most influential people in the world as a part of its Person of the Year award. In December 2016, Zuckerberg was ranked 10th on Forbes list of The World’s Most Powerful People.
May 14th, 1984
American
Harvard University
4
$165.2 B
Facebook - Co-Founder and CEO
Soon after the earnings call on Wednesday, April 24, the META share price stumbled nearly 19% wiping out more than $200 billion in the company’s market cap.
Reality Labs reported a total revenue of almost $1.9 billion in 2023, with more than half coming from sales of its Meta Quest 3 mixed reality headset which was released early in Q4.
Meta has until February 15 to respond to the first NOA sent on August 15, 2023.
CZ is not the only popular crypto figure that made it to Bloomberg’s world’s 500 richest people in 2023. Brian Armstrong had a net worth of $7.25 billion.
For the three months that ended on September 30, Meta reported about 2.09 billion daily active users (DAU), while analysts surveyed by StreetAccount expected around 2.07 billion.