Following the announcement of the social networking company "meta", the second quarterly decline in its quarterly revenue since its IPO, trading in the company's shares on the Wall Street Stock Exchange declined on Wednesday, which led to the shrinking of the wealth of its CEO Mark Zuckerberg more and more.

After "meta" announced its earnings on Wednesday, the company's shares fell by almost 20 percent in after-hours trading, when the stock price reached 104.30 dollars, according to Reuters, and the recession has squandered 67 billion dollars from the market value of"meta", which has lost almost half a trillion dollars this year alone.

Zuckerberg on Wednesday recorded a decrease in his wealth this year by 61 percent, according to the Bloomberg Billionaires Index, which indicated that most of the wealth of the said Billionaire accumulates in the company "meta", of which its share is 13 percent.

Zuckerberg's wealth currently amounts to 48.9 billion dollars, which means that he still ranks 23rd in the list of the richest in the world, according to the Bloomberg index, which showed that the said person started the year 2022 with a revolution of 125 billion dollars, but this amount diminished throughout the year due to the decline in the price of the "meta" stock, which this year recorded a decline of 70 percent.

Meta, which includes social media platforms; Facebook, Messenger, Instagram, WhatsApp, in addition to the virtual reality network, augmented reality and artificial intelligence to develop a virtual world for users within what is known as "Metaverse", this company recorded during the third quarter of this year a decline in revenue of 4 percent, and this decline followed the first decline in revenue recorded in the second quarter and amounted to 0.9 percent.

The Wall Street Journal reported that the company" meta "is facing a number of challenges due to the general economic situation and the intensification of competition by" TikTok", and the repercussions of changes tracking ads for Apple, which all affected its business in the advertising sector.