This year Mark Zuckerberg's net worth dropped by $71 billion  

The stock market rout of 2022 has eroded the personal worth of many tech billionaires, but none more so than Meta CEO Mark Zuckerberg.

Zuckerberg, the founder of the company formerly known as Facebook, has seen his net worth drop by nearly $71 billion this year, according to Bloomberg calculations. 

The 38-year-old Zuckerberg, who was ranked 3rd on the Forbes list of billionaires last year, has dropped to 22nd today. 

Meta Stock, which holds a large portion of Zuckerberg's fortune, has caused a dizzying fall. 

While this year's collapse in financial markets has cut the fortunes of several tech billionaires by nearly a quarter, no one saw a Zuckerberg-level wipeout, not even crypto CEO Changpeng Zhao.

Since Facebook went meta nearly a year ago, its stock has lost 60% of its value, along with Zuckerberg's.

The company's pivot to Metaverse underscores the difficulty with its traditional business model, which relies on selling massive amounts of advertising against specific user data.