Lifestyle UG
  • Home
  • News
  • Tech
  • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Real Estate
No Result
View All Result
Lifestyle UG
  • Home
  • News
  • Tech
  • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Real Estate
No Result
View All Result
Lifestyle UG
No Result
View All Result
ADVERTISEMENT
Home Tech

Meta Responds On The Rumor Of Mark Zuckerberg Resigning

Mark L Mojica by Mark L Mojica
23 November 2022
in Tech
Meta Responds On The Rumor Of Mark Zuckerberg Resigning

Meta responds that the rumors of Zuckerberg resigning in 2023 is wrong. Meta is the parent company of Facebook, WhatsApp, and Instagram. 

ADVERTISEMENT

Mark Zuckerberg is the co-founder of Facebook, the Chairman, CEO, and the controlling shareholder of Meta Platforms. Andy Stone, a Meta communications official has put an end to the rumors of Zuckerberg stepping down from the position. 

The online magazine, The Leak, reported the rumor first and this was tweeted by a user on Twitter. Andy Stone replied to the tweet on the same day by calling it “false”. 

The Leak claims that they have information from an insider whose identity is kept anonymous. 

ADVERTISEMENT

This was a stressful year for Meta with its shares declining to the lowest price, by 24 percent. This is recorded as the lowest since 2016. Meta had laid off 11,000 people which comprised 13% of its workforce as a result of decreasing revenue generation. Meta also announced that there would be no new hiring in the upcoming quarter.

Mark Zuckerberg Resigning

Mr. Zackerberg issued an apology to the laid-off employees saying that he wants to take accountability for those decisions and how they got there, he continued to say that he knows that is tough for everyone and he is especially sorry to those impacted. 

Zuckerberg was receiving massive criticism after the laid-off. According to the latest results of the company, “Reality Labs” of Meta has lost around $10 billion this year alone and hints that these losses are supposed to remarkably increase in the upcoming year.

Meta is planning to make reductions in every organization across its family of Reality Labs and Apps and said that the recruitment team would be disproportionately affected and that the business team would be restructured more substantially. 

He is continuing with the company’s investment in Metaverse amidst the questions about the probability of Meta’s work on virtual reality paying off. Zuckerberg on a call with investors said that he gets that a lot of people might disagree with that investment but from what he can tell he thinks that is going to be a very important thing. 

Meta Platforms is a U.S.-based global technology corporation and was initially known as Facebook. It was one of the publicly traded companies with the highest market capitalization. It is placed among the top five American IT companies where the others are Alphabet, Amazon, Apple, and Microsoft. Recently it is the least profitable.

Meta provides a varied range of services and products that comprises Meta Portal, Facebook, Messenger,  and Facebook Watch. It also shoulders Giphy, Oculus, Mapillary, Kustomer, and Presize. In the last financial year, Meta generated 97.5% of its revenue from advertising sales alone. Meta also has 9.99 % in Jio Platforms, which is an Indian multinational technology company.

Zuckerberg is a self-trained computer programmer and has a net worth of $68.2 billion as of June 10, 2022, based on a report from Bloomberg.

Most of his wealth is derived from Meta, also known as  Facebook which is the world’s largest social network. Instagram, owned by the company, is a platform for free photo and video sharing in-app and web forms. It is available on Android and iOS. It is a social networking platform that allows people to connect with each other and share news.

He is one of the 100 Most Influential People in the World since 2008. He was named by Time magazine. He launched “Thefacebook” in 2004 in partnership with Eduardo Saverin, Andrew McCollum, Dustin Moskovitz, and Chris Hughes. 

Zuckerberg is also a philanthropist. He founded the Start-up : Education Foundation. He with his wife Priscilla Chan owns the “Chan Zuckerberg Initiative” (CZI) which is an organization that could be sighted as an example of philanthrocapitalism. 

Read More:-

Fauci Bids Farewell After 50 Years!

What Are Doubloons On TikTok?

Tags: Mark ZuckerbergMeta

Related Posts

What is Errordomain=Nscocoaerrordomain & Errormessage=Could Not Find the Specified Shortcut. &Errorcode=4 Issue?

What is Errordomain=Nscocoaerrordomain & Errormessage=Could Not Find the Specified Shortcut. &Errorcode=4 Issue?

8 May 2024
Know Everything About Tuambia App

Know Everything About Tuambia App

6 May 2024
Has Elon Musk Launched a Forex Platform Called ‘Quantum AI'?

Has Elon Musk Launched a Forex Platform Called ‘Quantum AI’?

6 May 2024
Which One of The AI is Best Meta vs Gemini vs ChatGPT

Which One of The AI is Best Meta vs Gemini vs ChatGPT

2 May 2024
How To Delete Reddit Account

Do You Know How To Delete Reddit Account?

13 April 2024
What Is the Difference Between Old Reddit and New Reddit

What Is the Difference Between Old Reddit and New Reddit?

13 April 2024
Please login to join discussion
ADVERTISEMENT

Connect

  • Contact Us
  • Write For Us
  • Advertise
  • Submit A Tip
LifeStyleUG

About

  • About Us
  • Authors
  • Code of Ethics
  • Terms Of Use
  • Disclaimer
  • Privacy Policy
  • Editorial Policy
  • Cookie Policy
  • Cookie Preferences
  • Corrections Policy
  • Ownership and Advertising Policy
  • DMCA Policy
  • Fact Checking Policy
  • Grievance Redressal
  • Community Guidelines
  • Work for Us

Download Our Mobile App

Get the latest worldwide news, reviews, and info on businesses, finance, entertainment, travel, culture, and health with the Lifestyle UG News App.

DMCA.com Protection Status

Registered Address: Revolut Media LLC, 88681, 111 NE 1st St, 8th Floor, Miami, Florida, Miami-Dade, United States, 33132
© 2023 LifeStyle UG – Top Trending News! Content may not be reproduced in any form without written consent.

No Result
View All Result
  • Home
  • News
  • Tech
  • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Real Estate

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
SAVE & ACCEPT