• Zuckerberg, 38, was worth $142 billion in September 2021 but his fortunes have dramatically fallen, and now he is worth a mere $56 billion
Mark Zuckerberg‘s wealth has plummeted by $71 billion this year – more than any other billionaire tracked by Bloomberg’s ratings.
Zuckerberg, 38, was worth $142 billion in September 2021. On Tuesday he was worth a mere $56 billion, Bloomberg reported.
The economic headwinds meant that Zuckerberg was ranked 20th among global billionaires – his lowest spot since 2014.
Zuckerberg was placed below three Waltons, and two members of the Koch family.
The New York-born billionaire has seen his fortune steadily slip away since he launched Meta, Facebook’s parent company, in October 2021.
Zuckerberg was accompanied by his wife, Priscilla Chan, during their LA trip
Zuckerberg himself has come under intense scrutiny for his policies on content – first, during the 2016 election, with the Cambridge Analytica scandal, and then with battles over censorship and content monitoring.
He has been called to testify before Congress, with Republicans accusing him of censorship and Democrats saying he did not do enough.
In February, Meta revealed no growth in monthly Facebook users, triggering a historic collapse in its stock price and slashing Zuckerberg’s fortune by US$31 billion – among the biggest one-day declines in wealth ever.
Meta has recently faced controversy over its plan to promote Reels – short videos – on Instagram, which it owns.
And the tech industry as a whole is facing challenges, as advertisers reassess their spending amid looming recession.
Meta is performing worse than its peers, Bloomberg reported – down 57 percent this year, versus 14 percent for Apple, 26 percent for Amazon and 29 percent for Google’s parent company Alphabet.
Almost all of Zuckerberg’s wealth is tied up in Meta stock.
He holds more than 350 million shares, according to the company’s latest proxy statement.
Popular microblogging app, Twitter has unveiled its new logo.
The new logo was made public by Twitter owner Elon Musk and its new CEO.
The social media app on Sunday hinted that it would ditch its bird logo, be rebranded with the name X and move quickly into payments, banking and commerce, according to AFP.
Founded in 2006, Twitter takes its name from the sound of birds chattering, and it has used avian branding since its early days, when the company bought a stock symbol of a light blue bird for $15, according to the design website Creative Bloq.
Tweeting a picture of the company’s new logo – a white X on a black background – late Sunday night, Twitter chief executive Linda Yaccarino said “X is here! Let’s do this.”
Also late Sunday night, Musk changed his profile picture to the company’s new logo, which he described as “minimalist art deco,” and changed his Twitter bio to “X.com,” which now redirects to twitter.com.
Musk had earlier tweeted that “If a good enough X logo is posted tonight, we’ll make (it) go live worldwide tomorrow.”
Musk also tweeted that under the site’s new identity, a post would be called “an X.”
The changes were not visible on the website as of 0630 GMT Monday.
Musk had already named Twitter’s parent company the X Corporation, and previously said his takeover of the social media giant was “an accelerant to creating X, the everything app” — a reference to the X.com company he founded in 1999, a later version of which went on to become payments giant PayPal.
Such an app could still function as a social media platform, and also include messaging and mobile payments.
“Powered by AI, X will connect us in ways we’re just beginning to imagine,” Yaccarino tweeted earlier on Sunday.
Yaccarino, an advertising sales executive at NBCUniversal who Musk poached last month to become Twitter’s CEO, said the social media platform was on the cusp of broadening its scope.
“X is the future state of unlimited interactivity – centered in audio, video, messaging, payments/banking – creating a global marketplace for ideas, goods, services, and opportunities,” Yaccarino tweeted.
Zhao made this known via his Twitter handle on Sunday, saying, “Binance Nigeria Limited a scam entity.”
“Binance has issued cease & desist notice to the scammer entity “Binance Nigeria Limited”. Don’t believe everything you read in the news,” he wrote.
The Securities and Exchange Commission of Nigeria had declared that Binance Nigeria was operating illegally in the country as it is not registered or regulated by the SEC.
Details later…
According to the app’s website, the “social internet” of the future will give users more options and creators “independence from platforms”.
However, the app is still under development and may only be accessed with an invite code.
“We’re building the AT Protocol, a new foundation for social networking which gives creators independence from platforms, developers the freedom to build, and users a choice in their experience,” the website stated.
Using financing from Twitter, Mr Dorsey started developing Bluesky as a side project in 2019. In late February, it was first rolled out to iOS users.
As per TechCrunch, the basic features for monitoring likes or bookmarks, modifying tweets, quote-tweeting, direct messages and using hashtags, which are available on Twitter are not present in Bluesky at launch. This will make the app a more streamlined version of Twitter than what it initially appeared to be.
Additionally, it’s incorporating decentralisation into its own protocol, the AT Protocol, rather than adding to the work already done on ActivityPub, the protocol powering Mastodon, an open-source Twitter alternative and a variety of other decentralised apps in the larger “Fediverse”, the term for these connected servers hosting free, open-source web publishing software, as per the outlet.
The demand for the application has been growing and has 20,000 active users currently.
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