This decline is Zuckerberg’s lowest ranking among the world’s richest people in about two years, with his fortune falling to $235.2 billion, after a one-day loss of $29.2 billion, one of the largest daily losses recorded by the “Bloomberg Index.”
According to the report published by Bloomberg and reviewed by “Al Arabiya Business,” Meta’s decision to sell the largest issuance of investment bonds this year comes to finance its expansion in artificial intelligence projects. However, the huge expected spending, which could reach $118 billion this year and possibly more in 2026, has raised market concerns.
In contrast, Jeff Bezos and Larry Page regained their positions among the top four on the list of the wealthy, after the rise in Amazon and Alphabet shares. The latter recorded a jump of 2.5%, driven by increased demand for its cloud services and artificial intelligence solutions.
Meta’s stock had risen 28% since the beginning of the year, adding about $57 billion to Zuckerberg’s fortune, before the indicators quickly reversed with growing doubts about the feasibility of accelerating spending on artificial intelligence.
