Zuckerberg Shutdown Metaverse And Diverted The Money To Build Twitter Alternative

Zuckerberg has shut down the Metaverse and diverted the money to a real-life competitor of Elon Musk’s Twitter. His fortune has grown by about $44 billion this year.

Mark Zuckerberg was all-in on the metaverse last year, willing to spend whatever it took to dominate virtual reality.

And it cost him, big time. At one point his wealth fell more than $100 billion from its high — a stunning decline for the millennial who just a few years ago was the world’s third-richest person.

So far this year, his focus has been on the physical world — first cost-cutting at his Meta Platforms Inc. and now working on a real-life competitor to Elon Musk’s Twitter.

The results appear to be paying off. Zuckerberg’s fortune, which is comprised largely of his Meta stake, has grown by about $44 billion this year, the most of anyone tracked by the Bloomberg Billionaires Index. 

Even with Meta shares closing down slightly Friday in New York, Zuckerberg’s efficiency pivot has made the stock the second-best performer this year on the S&P 500, soaring more than 100% and pushing his net worth to $89.9 billion.  

According to people familiar with the matter, Instagram is set to launch a competitor to Twitter, and it has been secretly available to select creators for months.

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