Facebook founder Mark Zuckerberg told staff that he ‘may cry because he’d scratched his eye’ just hours after his company lost £174 billion in the biggest one-day drop in stock market history.
New figures, released as part of parent company Meta’s latest financial results, show that daily users of Facebook fell to 1.929 billion people in the last three months of 2021, compared with 1.939 billion in the previous quarter.
Meta’s shares fell 22.6% to 249.90 US dollars (£183) in after-hours trading following the announcement and Zuckerberg saw almost £22 billion pounds wiped of his net worth.
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Following the news Zuckerberg held a virtual-wide company meeting looking red-eyed and wearing glasses.
A person at the meeting told AdAge that he told staff that if he started to cry it wasn’t because of the day’s news but a scratched eye.
Mr. Zuckerberg admitted the rise of rival apps such as TikTok is having an impact on Facebook, with Meta also warning of slowing revenue growth because of the growing competition and a reduction in spending among advertisers.
