Meta's big AI gamble just cost Mark Zuckerberg two spots on the billionaire's index
Update: 2025-10-31
Description
Mark Zuckerberg's net worth plummeted by $29.2 billion after Meta's earnings report, causing him to lose his spot in the top three of the Bloomberg Billionaires Index. The drop was due to investors' concerns over Meta's aggressive spending on AI, with the company planning to spend up to $72 billion on AI by 2025. Other tech giants also experienced stock fluctuations, with Alphabet and Amazon seeing gains and Microsoft experiencing a dip. Financial experts warn that the AI hype may be losing investor confidence, as companies announcing mega spending plans on AI are seeing their stock prices drop.
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