Kathmandu. Meta founder Mark Zuckerberg’s net worth has dropped by nearly $25 billion since the Trump administration raised tax rates. O
Shares of Meta plunged more than 10% on the US securities market on Wall Street on Thursday as higher tax burdens directly impacted net profits. The contraction is the company’s biggest one-day loss this year.
Shares of Meta fell 12.3% to $658.50 a share after the stock market opened on Thursday morning after Meta’s quarterly earnings beat Wall Street experts’ forecasts. The price is the biggest one-day loss for the stock since a 24.5 percent drop in October 2022.
Meta reported third-quarter earnings per share on Wednesday, beating economists’ estimate of $6.72 per share earnings per share by 84 percent. According to FactSet, despite a turnover of $51.2 billion, there was an 83 percent decline in earnings per share (EPS) compared to the previous year ($6.03), above estimates of $49.5 billion.
Earnings per share have shrunk due to the addition of a one-time tax burden of $15.9 billion due to US President Donald Trump’s sweeping tax bill. Meta expects a “significant reduction” in U.S. federal cash tax payments for the remainder of 2025 and future years. Meta said in a press release that the earnings per share would have been 7.25 percent had the government not had to pay additional taxes.
