Zuckerberg has lost 50 billion dollars due to the metaverse

The company, which owns Facebook, Instagram, and WhatsApp, has lost a total of 47 billion dollars since the beginning of 2019 due to its Reality Labs division.

While the division's operating loss was under 5 billion dollars in 2019, it rose to over 10 billion dollars in 2021. This loss reached approximately 14 billion dollars in 2022. In the first nine months of 2023, it amounted to 11 billion dollars.

LOSSES WILL CONTINUE

Zuckerberg and his team have projected that this trend will continue. Meta's third-quarter report stated, "We expect our RL operating losses to increase meaningfully year-over-year in 2024. Most of our RL investments will only be fully realized over the next decade. These investments are directed toward cutting-edge research and development."

Meta's 47 billion dollar loss has surpassed the 39 billion dollar fortune of Nike co-founder Phil Knight and his family, as well as the 36 billion dollar fortune of Nvidia CEO Jensen Huang.

HE HAD ALSO PURCHASED OCULUS

For years, Zuckerberg has been advocating for virtual reality, augmented reality, and other technologies related to the metaverse. To this end, the company acquired Oculus, which developed virtual reality technology, in 2014.

It remains unclear whether Zuckerberg's massive investment in the metaverse will pay off. However, it appears that Meta's losses in this area are set to continue growing in the coming years.

News Source: 12punto