The fortune of the founder and CEO of the social networking site “Facebook”, Mark Zuckerberg, jumped by $ 12.5 billion, yesterday, Thursday, after pledging that 2023 would be “the year of efficiency” for the “Meta Platform” company.
“Bloomberg” agency reported that this jump is the largest in Zuckerberg’s wealth in one day, and it is a recovery that comes after a year that is his worst ever, after his wealth declined from a peak of $ 142 billion in September 2021.
And in 2022, Zuckerberg’s wealth was volatile, as he lost up to $31 billion in one day last February, then earned $11 billion in April, then lost $11 billion last October, according to the report, which was reported by Al-Hurra.
Zuckerberg’s net worth is currently $69.8 billion, making him the 13th richest in the world, according to the Bloomberg Billionaires Index.
And “Bloomberg” reported that Zuckerberg said in a call with investors, Wednesday, that the company’s job cuts in November of 11,000, or 13 percent of the workforce, were “just the beginning” of his plans.
“We’re working on flattening our organizational structure, removing some layers of middle management for faster decision-making, and using artificial intelligence to help our engineers be more productive,” Zuckerberg said.
The company also scored a victory in the courts this week, defeating efforts by the Federal Trade Commission to block the company’s acquisition of a virtual reality startup, according to Bloomberg.
The agency said that Meta is recovering after it suffered from a decline in advertising due to the weak economy and changes to privacy rules on iPhones.
Zuckerberg said the company is using artificial intelligence to improve the way it recommends content, which could make the platform more attractive to users and advertisers.