CompaniesBIO

Facebook founder Mark Zuckerberg has seen his net worth slashed by more than $100 billion this year, according to Bloomberg's Billionaire Index, as Meta, Facebook's parent company , faces investor pessimism about its future growth trajectory. The 38-year-old is now worth approximately $36 billion. By comparison, heading into Thursday, Tesla CEO Elon Musk was worth $211 billion , Amazon founder Jeff Bezos was worth $139 billion , and Microsoft co-founder Bill Gates was worth $110 billion , per Bloomberg data. Meta shares were down as much as 22% in Thursday trading, making the company worth approximately $271 billion. Zuckerberg owns nearly 367 million Meta shares, according to the data website Whale Wisdom. That amounts to about 13.5% of all its outstanding stock. Meta reported earnings Wednesday evening that fell short of analysts' expectations , with multiple Wall Street analysts issuing downgrades. The company faces increasing competition from other social media platfo...

Netflix announced Thursday that its new ad-supported offering will cost $6.99 in the U.S. and will launch November 3. The company's Basic with Ads plan — cheaper than its $9.99 Basic plan — will include an average of four to five minutes of ads per hour. Video quality will range up to 720p/HD, which will now be the range for the Basic plan as well. Users will not be able to download titles and some titles won't be available due to country licensing restrictions. Advertisers will also be able to block ads from appearing on content that might be inconsistent with their brand, like sex or violence, the company said. "In short, Basic with Ads is everything people love about Netflix, at a lower price, with a few ads in-between," the company said in a release. At 221 million subscribers globally, Netflix remains the largest worldwide streaming service . But Netflix shares have lost 62% of their value in 2022 amid questions about the company's ability to keep growing i...