WATCH: Huge losses for Zuckerberg as daily users drop sharply

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For the first time in its 18-year run, Meta CEO Mark Zuckerberg saw $29billion wiped from his net worth following his company’s share price collapse following its latest quarterly report.

Shares of Meta dropped nearly 25per cent in after-hours trading as daily users continue to abandon Facebook/Meta. Zuckerberg has cited rival TikTok as one of the reasons for the migration of younger users from Meta to the popular Chinese-owned social media platform.

This report is courtesy of Good Morning America.