'Big Tobacco-like fears’ that wiped $20 billion from Zuckerberg's wealth in 2 days

Mark Zuckerberg reportedly saw his wealth drop by $20 billion in two days following a New Mexico verdict holding Meta liable for failing to protect children from predators. The social media giant was ordered to pay $375 million in civil penalties. Meta, however, plans to challenge the ruling, stating it invests in safety measures.

By TOI TECH DESK

Meta sees $310 billion market value drop amid legal, AI concerns

While Meta is deemphasizing the metaverse to focus on AI. But the concerns about runaway spending have only grown.

Meta Loses $310 Billion Market Value Due To Legal Risk, AI Spending Concerns

Shares of the Facebook and Instagram parent are down 19% this month, putting them on pace for their worst performance since October 2022.

Meta Faces $310 Billion Market Value Drop on Legal, AI Concerns

Meta Platforms Inc. was looking like the best Big Tech stock in the market when the year began. But investors’ fears of legal risks and heavy spending on artificial intelligence are bubbling to the surface, culminating in last week’s 11% rout.

By Ryan Vlastelica