Mark Zuckerberg’s net worth declined more than $71 billion in 2022

The net worth of Meta CEO Mark Zuckerberg, once the third richest person on the planet, plummeted by more than 50% this year, knocking him down to the 20th spot on Forbes’ list of the world’s wealthiest.

Zuckerberg was worth a whopping $142 billion in September 2021, just one month before he introduced Meta and changed the company’s name from Facebook Inc. In the months since, things have gone down hill for the tech titan, whose net worth stood at around $55 billion Wednesday morning, according to the Bloomberg Billionaires Index.

Zuckerberg has seen his value decline by more than $71 billion in 2022 alone. Meta’s stock, which holds the bulk of his fortune, has also lost about 60% of its value in the same timeframe.