Meta (formerly Facebook) dropped out of the top 10 largest companies in the world by market capitalization, according to Bloomberg estimates. As a result of yesterday’s trading, Meta’s capitalization fell to $565 billion, which put it in 11th place, after the Chinese company Tencent ($589 billion). The first place is now occupied by Apple with $2.8 trillion, the second by Microsoft with $2.2 trillion, and the third by Saudi Aramco with $2 trillion.
Facebook’s capitalization reached its peak in June-September last year, breaking the $1 trillion mark after a failed attempt by the US authorities to split the company, which many accuse of monopoly.
But already at the beginning of this year, Meta quotes went down sharply. In early February, the drop was 20% due to a decrease in the number of active users and a weak company forecast for the year, and capitalization collapsed by $ 175 billion in a day. As a result, Mark Zuckerberg dropped to 12th place in the ranking of the richest people in the world according to Forbes. In an attempt to overcome the crisis, Mr. Zuckerberg this week presented a list of new corporate values that should replace the previous ones proclaimed by Facebook in 2007. However, Mr. Zuckerberg’s statement was coolly received by investors and the media – over the next two days, the company’s shares fell by another 6%, and some American media called the changes announced by Mark Zuckerberg “ridiculous and ridiculous.”