Feb 7, Kathmandu- Last week there was a historic drop in shares of social media site Facebook's parent company Meta. The company's CEO Mark Zuckerberg has lost the heavy amount of 31 billion due to the fall in shares of Meta. At the same time, his place in the Bloomberg Billionaire list of the world's billionaires has dropped three places.

According to the Bloomberg Billionaire Index, he is currently the 10th richest people in the world. That's behind Oracle co-founder Larry Ellison and ahead of Indian billionaire Mukesh Ambani by a few million dollars. Tesla CEO Elon Musk tops the list of billionaires by a wide margin.

Last Thursday was the worst day in the stock market for Meta. With the report of a decline in profits and users became public Meta's share price had plummeted.

Shares of the company fell 26 percent and Meta lost 240 billion. The amount lost by Meta is more than the total market value of companies including Oracle, Cisco, and Disney.

Zuckerberg, 37, owns 398 million shares of Meta Company. Which is 14.2 percent of the total share of the company.

Zuckerberg's fortune has plummeted to 89.6 billion since the company's share price plummeted. Zuckerberg is being followed by Indian billionaire and Asia's richest man Mukesh Ambani. Ambani's net worth is only 400 million less than Zuckerberg's.

If Facebook's share price continues to fall, it risks being overtaken by Ambani and dropped from the list of Zuckerberg's top billionaires.