As investors punished Meta Platforms for its first-quarter sales guidance miss, CEO Mark Zuckerberg felt it where it mattered — his wallet.
According to Forbes data, Zuckerberg lost $29.7 billion on Thursday, since he owns nearly 13% of the Facebook FB, -26.39% parent. Zuckerberg is now a mere two-digit billionaire, with a net worth of $84.8 billion.
That’s still about 700,000 times the median net worth of U.S. households, which is $121,700, according to the most recent Federal Reserve estimate.
Jeff Bezos, however, is set to see an extraordinary wealth gain. By Reuters calculations, the Amazon AMZN, -7.81% founder and chairman is going to see his wealth shoot up by $20 billion, after the e-commerce giant reported a surge in profit and said it would hike the cost of its Prime subscription service.
Those gains will help narrow the gap between Bezos and LVMH MC, -0.72% Chairman and CEO Bernard Arnault for second-richest human, though they both trail Tesla TSLA, -1.60% CEO Elon Musk by a considerable distance.