Mumbai (Maharashtra) [India], February 4 (ANI): The market value of Facebook parent company Meta Platforms Inc plunged by $240 billion in a single day on Thursday as the company’s share crashed by 26 percent. This single-day loss in the market capitalization of Meta Platforms Inc is more than the total value of India’s largest company.
“Facebook Meta market value dropped $240 bn (18 lakh crores) in a day. That is more than the total value of India’s largest company. It highlights the fragility and fickleness of our times. Welcome to the never-normal world!,” Uday Kotak, CEO, Kotak Mahindra Bank, tweeted.
Reliance Industries Limited is India’s most valued company with a market capitalization of around $210 billion.
In a single-day plunge, Facebook founder Mark Zuckerberg became poorer by $29 billion. This has pulled down Zuckerberg’s net worth to $85 billion.
In Forbes’ list of real-time billionaires, Zuckerberg has slipped to 12th position, below Indian billionaires Reliance Industries chief Mukesh Ambani and Adani Group’s chairman Gautam Adani. (ANI)
