A record one-day plunge saw Meta Platforms, Facebook's owner, taking a stock market value slump by more than $230bn on Thursday, a record daily loss for a US firm. Mark Zuckerberg in turn lost $29 billion in net worth on Thursday, while fellow billionaire Jeff Bezos is set to add $20 billion to his personal valuation after Amazon's blockbuster earnings.

Meta's stock fell 26%, losing more than $200 billion in the biggest ever single-day market value wipeout for a U.S. company. The slump pulled down, Founder and Chief Executive Officer Zuckerberg's net worth went by $85 billion, according to Forbes.

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

Bezos' 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 Inc top boss Elon Musk's $35 billion single-day paper loss in November. Tesla shares have yet to recover from the resulting selloff.

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.

The drop in Mr Zuckerberg's personal fortune was equivalent to the annual gross domestic product of Estonia.

Meta also warned of slowing revenue growth in the face of competition from rival platforms including TikTok and YouTube, while advertisers were also cutting spending.

Zuckerberg said the firm's sales growth had been hurt as audiences, especially younger users, had left for rivals.
-Reuters/BBC