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