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    Zuckerberg’s meta has lost almost $50 billion since 2019

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    Mark Zuckerberg.

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    Mark Zuckerberg’s Meta cost the Metaverse nearly $50 billion in less than five years.

    The sector’s total losses were $47 billion, more than the market capitalization of automaker Ford, chocolate maker Hershey and food company Kraft Heinz.

    Nike’s Phil Knight, Nvidia’s Jensen Huang, and Citadel’s Ken Griffin all have low value on paper.

    This is a machine translation of an article by Insider’s US colleagues. Automatically translated and checked by real editors. We welcome your feedback at the end of the article.

    Mark Zuckerberg’s Meta has cost the Metaverse a total of around $50 billion in losses. This amount dwarfs the market value of many famous companies and the wealth of the world’s richest people.

    The company, which owns Facebook, Instagram, and WhatsApp, has suffered cumulative losses of $47 billion in its Reality Labs division since the beginning of 2019. This was the result of an analysis of official documents by Business Insider. The segment’s operating losses widened from less than $5 billion in 2019 to more than $10 billion in 2021. In 2022, there was a loss of almost $14 billion. This year, it has surpassed $11 billion in the first nine months.

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    Zuckerberg and his team expect this trend to continue. “We expect our RL operating loss to increase significantly in 2024.” Third quarter results Written by Mehta. “Many of our RL investments are focused on long-term, innovative research and development of products for the Metaverse and may not be fully realized until the next decade. ”

    Meta’s metaverse losses to date have exceeded the market capitalization of many companies. These include, for example, automaker Ford ($45 billion), coffee maker Keurig Dr. Pepper ($41 billion), chocolate maker Hershey ($39 billion), and food manufacturer Kraft Heinz ($39 billion). )It is included. ). It could soon overtake sportswear retailer Lululemon ($49 billion), fast food chain Chipotle ($50 billion), discount retailer Target ($51 billion) and beverage maker Monster Beverage ($52 billion).

    If Mehta’s $47 billion is his personal net worth, that’s “Bloomberg Billionaires Index“It ranks in the top 25.” That includes Nike co-founder Phil Knight and his family ($39 billion), Nvidia CEO Jensen Huang ($36 billion) and Citadel CEO Ken Griffin. ($35 billion). They are also worth almost half of Zuckerberg ($105 billion).

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    It is important to emphasize that the Metaverse business is only a small part of the whole Meta. Zuckerberg’s company generated $94 billion in revenue from January to September. Operating profit for its flagship family of apps was $42 billion. In comparison, RL business’s revenue is his US$1 billion, and his loss is US$11.5 billion. As a result, Mehta also generated operating profits of over $30 billion during this period.

    Zuckerberg has long championed virtual reality, augmented reality, and other metaverse technologies. When his company acquired VR pioneer Oculus in 2014, he wanted everyone in the world to be courtside at an NBA game, on stage at a Taylor Swift concert, or at Harvard University. I envisioned feeling like I was sitting in the front row of a lecture.

    It’s unclear whether Zuckerberg’s big bet on the Metaverse will ultimately pay off. However, the metaverse’s losses in this area are undoubtedly significant and will continue to increase in the coming years.

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