Amazon stock has fallen 24% today including afterhours trading and sent Jeff Bezos net worth to about $107 billion. Elon Musk is at about $211 Billion in net worth. Amazon has lowered guidance for the fourth quarter.
Meta is down 25% today and Mark Zuckerberg with about 12.8% is down to about $40 billion in net worth. Zuckerburg is likely about the 26th richest person now.
Meta is imploding as they are spending over $9 billion on research to make about $250 million on the metaverse. Meta plans to spend $10 billion per year to make the metaverse. The metaverse is not proven and 30-40% of the revenues seems likely to be games. Tencent owns SuperCell which has Clash of Clans and other games. Meta is trailing badly in video games. Meta is not making almost no money on any of the existing domains where metaverse would be developing.
Elon is about five times richer than Zuckerburg.
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels.
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