The Fall and Rise of Meta Platforms: How Zuckerberg Turned the Tide

Meta Platforms, previously Facebook, experienced a sharp fall in stock prices due to losses from the metaverse.

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Shareholders weren't happy with CEO Mark Zuckerberg's focus on the metaverse.

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The metaverse project caused the Reality Labs unit to lose $13.72 billion in 2022.

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Investors sold off Meta shares, causing the stock to plummet by 72.5% in just 10 months.

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Despite shareholder unrest, Zuckerberg remained as CEO due to his majority voting rights.

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Sheryl Sandberg, the COO, stepped down in May.

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Meta announced 21,000 job cuts and a focus on efficiency, leading to a stock market revival.

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Meta's stock price has soared by 121% since the start of the austerity cure.

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Zuckerberg's net worth has increased by $32.8 billion, making him one of the top billionaires in the world.

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