Will Mark Zuckerberg leave Meta next year? Read here what the company said
Meta (Facebook) has clarified that its co-founder and CEO Mark Zuckerberg will not resign next year (2023). The statement comes after a report claimed that Zuckerberg will exit the company next year due to investor frustration with his plan to double down on investments in the loss-making Metaverse project.
Additionally, Meta reported a decline in revenue in the last two quarters, and no change is expected in the coming three months. Additionally, the company laid off 13 percent of its global workforce nearly two weeks ago.
| Meta (Technology company) | Mark Zuckerberg (Chief Executive Officer of Facebook) |
| CEO: Mark Zuckerberg (Jul 2004) | Born: 14 May 1984 (age 38 years) |
| Revenue: 8,596.5 crores USD (2020) | Net worth: 4,010 crores USD (2022) Forbes |
| CTO: Andrew Bosworth | Spouse: Priscilla Chan (m. 2012) |
| Founded: February 2004, Cambridge, Massachusetts, United States | Children: Maxima Chan Zuckerberg, August Chan Zuckerberg |
| Founders: Mark Zuckerberg, Andrew McCollum, Eduardo Saverin, Chris Hughes, Dustin Moskovitz | Height: 1.71 m |
| Subsidiaries: WhatsApp, Novi Financial, Inc., Giphy, MORE | Parents: Edward Zuckerberg, Karen Kempner
|
Meta Inc’s policy communication director, Andy Stone took to Twitter to clarify that founder and chief executive Mark Zuckerberg will not be stepping down anytime soon.
$META – Mark Zuckerberg is set to resign next year: theleakhttps://t.co/lFZAfkydsG
— *Walter Bloomberg (@DeItaone) November 22, 2022
According to the leak, which claimed in its recent report that Mark is likely to leave the company in 2023, Zuckerberg spent money like water on the Metaverse project, but the results are not coming. Apart from this, the company is also incurring losses. Meta’s Reality Lab,s which is working on Zuckerberg’s metaverse project, lost $3.7 billion in Q3 2022. Earlier last month, the Financial Times had said in its report that Meta’s investors are no longer trusting Mark Zuckerberg.
Zuckerberg defends the project despite criticism during an earnings call and said, “many might disagree with this investment. But from what I can tell, I think that this is going to be a very important thing, and I think it would be a mistake for us to not focus on any of these areas, which I think are going to be fundamentally important to the future“.
As already mentioned, Meta made its biggest layoffs yet, totaling 11,000, or about 13% of its entire global workforce. More layoffs may become necessary if the company continues to operate at a loss and the macroeconomic conditions remain unchanged.
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