Close Menu
TechCentralTechCentral

    Subscribe to the newsletter

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    Facebook X (Twitter) YouTube LinkedIn
    WhatsApp Facebook X (Twitter) LinkedIn YouTube
    TechCentralTechCentral
    • News

      Starlink to South Africa: ‘We are ready to invest’

      17 June 2025

      Vodacom CEO Joosub bags R71m in pay – but taxman will take a big cut

      17 June 2025

      Major rift opens between Microsoft and OpenAI

      17 June 2025

      South Africa pioneered drone laws a decade ago – now it must catch up

      17 June 2025

      South African AI energy start-up in R32m funding round

      17 June 2025
    • World

      Trump Mobile dials into politics, profit and patriarchy

      17 June 2025

      Samsung plots health data hub to link users and doctors in real time

      17 June 2025

      TechCentral Nexus S0E2: South Africa’s digital battlefield

      16 June 2025

      Yahoo tries to make its mail service relevant again

      13 June 2025

      Qualcomm shows off new chip for AI smart glasses

      11 June 2025
    • In-depth

      Grok promised bias-free chat. Then came the edits

      2 June 2025

      Digital fortress: We go inside JB5, Teraco’s giant new AI-ready data centre

      30 May 2025

      Sam Altman and Jony Ive’s big bet to out-Apple Apple

      22 May 2025

      South Africa unveils big state digital reform programme

      12 May 2025

      Is this the end of Google Search as we know it?

      12 May 2025
    • TCS

      TechCentral Nexus S0E1: Starlink, BEE and a new leader at Vodacom

      8 June 2025

      TCS+ | The future of mobile money, with MTN’s Kagiso Mothibi

      6 June 2025

      TCS+ | AI is more than hype: Workday execs unpack real human impact

      4 June 2025

      TCS | Sentiv, and the story behind the buyout of Altron Nexus

      3 June 2025

      TCS | Signal restored: Unpacking the Blue Label and Cell C turnaround

      28 May 2025
    • Opinion

      Beyond the box: why IT distribution depends on real partnerships

      2 June 2025

      South Africa’s next crisis? Being offline in an AI-driven world

      2 June 2025

      Digital giants boost South African news media – and get blamed for it

      29 May 2025

      Solar panic? The truth about SSEG, fines and municipal rules

      14 April 2025

      Data protection must be crypto industry’s top priority

      9 April 2025
    • Company Hubs
      • Africa Data Centres
      • AfriGIS
      • Altron Digital Business
      • Altron Document Solutions
      • Altron Group
      • Arctic Wolf
      • AvertITD
      • Braintree
      • CallMiner
      • CYBER1 Solutions
      • Digicloud Africa
      • Digimune
      • Domains.co.za
      • ESET
      • Euphoria Telecom
      • Incredible Business
      • iONLINE
      • Iris Network Systems
      • LSD Open
      • NEC XON
      • Network Platforms
      • Next DLP
      • Ovations
      • Paracon
      • Paratus
      • Q-KON
      • SevenC
      • SkyWire
      • Solid8 Technologies
      • Telit Cinterion
      • Tenable
      • Vertiv
      • Videri Digital
      • Wipro
      • Workday
    • Sections
      • AI and machine learning
      • Banking
      • Broadcasting and Media
      • Cloud services
      • Contact centres and CX
      • Cryptocurrencies
      • Education and skills
      • Electronics and hardware
      • Energy and sustainability
      • Enterprise software
      • Fintech
      • Information security
      • Internet and connectivity
      • Internet of Things
      • Investment
      • IT services
      • Lifestyle
      • Motoring
      • Public sector
      • Retail and e-commerce
      • Science
      • SMEs and start-ups
      • Social media
      • Talent and leadership
      • Telecoms
    • Events
    • Advertise
    TechCentralTechCentral
    Home » Investment » In one day, Zuckerberg loses $29bn, Bezos set to pocket $20bn

    In one day, Zuckerberg loses $29bn, Bezos set to pocket $20bn

    By Agency Staff4 February 2022
    Twitter LinkedIn Facebook WhatsApp Email Telegram Copy Link
    News Alerts
    WhatsApp
    Jeff Bezosops

    Mark Zuckerberg lost US$29-billion (R442-billion) in net worth on Thursday as Meta Platforms’ stock marked a record one-day plunge, while fellow billionaire Jeff Bezos was set to add $20-billion (R305-billion) to his personal valuation after Amazon’s blockbuster earnings.

    Meta’s stock fell 26%, erasing more than $200-billion in the biggest ever single-day market value wipeout for a US company. That pulled down founder and CEO Zuckerberg’s net worth to $85-billion, according to Forbes.

    Zuckerberg owns about 12.8% of the tech behemoth formerly known as Facebook.

    Bezos, the founder and chairman of e-commerce retailer Amazon, owns about 9.9% of the company

    Bezos, the founder and chairman of e-commerce retailer Amazon, owns about 9.9% of the company, according to Refinitiv data. He is also the world’s third richest man, according to Forbes.

    Amazon’s holiday-quarter profit surged, thanks to its investments in electric vehicle company Rivian; and the company said it would hike annual prices of Prime subscriptions in the US, sending its shares up 15% in extended trading and readying it for its biggest percentage gain since October 2009 on Friday.

    Bezos’s net worth rose 57% to $177-billion in 2021 from a year earlier, according to Forbes, largely from Amazon’s boom during the pandemic when people were highly dependent on online shopping.

    Zuckerberg’s one-day wealth decline is among the biggest ever and comes after Tesla top boss Elon Musk’s $35-billion single-day paper loss in November. Musk, the world’s richest person, had then polled Twitter users if he should sell 10% of his stake in the electric car maker. Tesla shares have yet to recover from the resulting selloff.

    Tumbling down

    Following the $29-billion wipeout, Zuckerberg is in the twelfth spot on Forbes’ list of real-time billionaires, below Indian business moguls Mukesh Ambani and Gautam Adani.

    To be sure, trading in technology stocks remains volatile as investors struggle to price in the impact of high inflation and an expected rise in interest rates. Meta shares could very well recover sooner rather than later, with the hit to Zuckerberg’s wealth staying on paper.

    Zuckerberg sold $4.47-billion worth of Meta shares last year, before 2021’s tech rout. The stock sales were carried out as part of a pre-set 10b5-1 trading plan, which executives use to allay concerns about insider trading.  — Eva Mathews, Akash Sriram and Chavi Mehta, (c) 2022 Reuters



    Amazon Elon Musk Facebook Jeff Bezos Mark Zuckerberg Meta Meta Platforms
    Subscribe to TechCentral Subscribe to TechCentral
    Share. Facebook Twitter LinkedIn WhatsApp Telegram Email Copy Link
    Previous ArticleNuclear board ‘not allowed’ to have atomic opponents: Mantashe
    Next Article Africa’s biggest crypto exchange eyes US expansion

    Related Posts

    Starlink to South Africa: ‘We are ready to invest’

    17 June 2025

    Meta bets $72-billion on AI – and investors love it

    17 June 2025

    Qualcomm shows off new chip for AI smart glasses

    11 June 2025
    Company News

    Sage brings together HR leaders to explore the future of payroll and people management

    18 June 2025

    Altron: a brand journey, a birthday celebration and a bet on Joburg’s future

    17 June 2025

    7 benefits of social media integration in WordPress

    17 June 2025
    Opinion

    Beyond the box: why IT distribution depends on real partnerships

    2 June 2025

    South Africa’s next crisis? Being offline in an AI-driven world

    2 June 2025

    Digital giants boost South African news media – and get blamed for it

    29 May 2025

    Subscribe to Updates

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    © 2009 - 2025 NewsCentral Media

    Type above and press Enter to search. Press Esc to cancel.