Mark Zuckerberg lost approximately $29.2 billion as Meta's AI spending concerns led to a decline in investor confidence, causing him to drop two spots on Bloomberg's Billionaires Index.
Zuckerberg's net worth is now $235 billion, ranking him fifth on the index, below Amazon's Jeff Bezos and Alphabet's Larry Page.
The shift in rankings occurred after Meta's quarterly earnings report led to a decline in the company's stock, while Alphabet's shares rose 2.5% due to strong growth in Google Cloud and Search.
Every time a story is published, investors are alerted to the changes in the market, reflecting the dynamic nature of the billionaire's index.
Author's summary: Mark Zuckerberg loses $29.2 billion.