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Meta's $1 million donation to Trump's inaugural fund illustrated a strategic effort to mend fences, reflecting a broader corporate diplomacy approach. Zuckerberg's leadership emphasized cooperation with political figures despite past tensions.

Meta donates $1 million to Trump’s inauguration fund

Trump had previously warned Zuckerberg in August that he would face severe consequences if he interfered with the 2024 election.

Meta has donated $1 million to Donald Trump&rsquo;s inaugural fund, a move aimed at improving its relationship with the president-elect, as reported by The Wall Street Journal.
Meta confirmed the contribution, which is designated for the expenses related to the presidential inauguration.
Mark Zuckerberg, CEO of Meta, has been working to repair ties with Trump. Although Zuckerberg did not publicly endorse a candidate in the 2024 election, he took steps toward reconciliation, including a Thanksgiving Eve dinner with Trump at his Mar-a-Lago resort.
This follows a period of tension, especially after Trump&rsquo;s removal from Facebook and Instagram in 2021 for his praise of those involved in the Capitol riots.
Trump had previously warned Zuckerberg in August that he would face severe consequences if he interfered with the 2024 election. However, Meta reinstated Trump&rsquo;s accounts on both platforms in January 2023.

Mark Zuckerberg, one of the richest man on the planet got a customised luxury car for his wife and even designed it himself.

What Did Meta CEO Mark Zuckerberg Gift His Wife? 

Mark Zuckerberg, one of the richest man on the planet got a customised luxury car for his wife and even designed it himself.

Mark Zuckerberg, world&rsquo;s third richest person, happened to gift his wife. While it is difficult for common man to select a gift, what would Meta CEO gift his wife who probably has it all already.
Well, Mark decided to design a Porche. Yes, he designed a Porche Cayenne Turbo GT minivan for his wife Priscilla Chan. His idea and the design were then executed to convert the SUV into a low-riding minivan. The minivan-style extra-long body makes the Cayenne Turbo GT stand out than the standard vehicles. &nbsp;He also got a 911 Turbo GT3 for himself. &nbsp;
With this Mark Zuckerberg is now the proud owner of two new Porche cars. Both the unique cars were developed in collaboration with the luxury automaker and West Coast Customs as Porche doesn&rsquo;t have a car with minivan body structure. &nbsp;
Mark Zuckerberg got himself involved with the customization as he knew what his wife wants. He then took to social media to share the update on their brand new luxury vehicles. He mentioned that he specially designed the vehicle with electric sliding doors in his post. &nbsp;&nbsp;
Also Watch: <a href="https://www.editorji.com/business-news/uber-pet-is-here-bring-your-furry-friends-along-for-the-ride-1728389920594">Uber Pet is Here: Bring Your Furry Friends Along for the Ride!</a> &nbsp;

Meta CEO Mark Zuckerberg has started his luxury watch collection and netizens feel the Ambanis have influenced him! Here are more deets about his Platinum Patek Philippe watch.

Meta CEO Mark Zuckerberg flaunts ₹1.18 crore Platinum Patek Philippe watch. Seen yet?

<h2>Meta CEO Mark Zuckerberg has started his luxury watch collection and netizens feel the Ambanis have influenced him! Here are more deets about his Platinum Patek Philippe watch.</h2>

Meta CEO Mark Zuckerberg, with a staggering net worth of over $164 billion (approximately Rs 13,69,670 crore), owns some of the most luxurious homes, cars and watches in the world. Recently, the billionaire took to X and shared a lovely snap with his wife Priscilla Chan. While the couple's picture is adorable, what caught netizens' attention was the business magnate's ₹1.18 crore watch.
<h3>All about Mark's ₹1.18 crore watch</h3>
Mark was seen wearing the Platinum Patek Philippe in-line perpetual calendar with a blue dial that costs a whopping $141,400, approximately ₹1.18 crore.
According to Patek Philippe's website, their latest watch introduces a perpetual calendar with an innovative in-line display. This feature aligns the day, date, and month in a single window at the 12 o'clock position.
Patek Philippe has applied for three patents for this design. The watch is encased in platinum with a blue dial featuring a satin finish and a black gradient at the edges.
<h3>Did Ambanis influence Mark's new watch collection?</h3>
Many netizens feel that the Ambanis influenced Mark Zuckerberg to get a fancy watch. Earlier this year, Zuckerberg attended the pre-wedding festivities of Anant Ambani and Radhika Merchant, where he expressed his admiration for a watch from the Richard Mille collection, worn by the groom.&nbsp;
According to reports, he said, "You know, I never really wanted to get a watch. But after seeing that, I was like, watches are cool." Wife Chan playfully agreed, adding, "I might want that."
Also watch: <a href="https://www.editorji.com/lifestyle-news/zuckerberg-s-luxuries-a-peek-into-the-billionaire-s-lavish-assets-1723791177851">Zuckerberg's Luxuries: A peek into the Billionaire's lavish assets</a>

In a letter to the US Congress, Meta CEO Mark Zuckerberg accused the Biden administration of repeatedly pressuring the social media platform to censor certain content.

Mark Zuckerberg Says Biden-Harris Administration Pressured Meta To Censor Covid-19 Content

In a letter to the US Congress, Meta CEO Mark Zuckerberg accused the Biden administration of repeatedly pressuring the social media platform to censor certain content.

In a letter to the US Congress, Meta CEO Mark Zuckerberg accused the Biden administration of repeatedly pressuring the social media platform to censor certain content.
The letter read, "In 2021, senior officials from the Biden Administration, including the White House, repeatedly pressured our teams for months to censor certain COVID-19 content, including humor and satire, and expressed a lot of frustration with our teams when we didn't agree. Ultimately, it was our decision whether or not to take content down, and we own our decisions, including COVID-19-related changes we made to our enforcement in the wake of this pressure. I believe the government pressure was wrong."
Zuckerberg admitted the platform made some changes, that "with the benefit of hindsight and new information," it wouldn't make today.
Facebook CEO also spoke of an FBI warning over a "potential Russian disinformation operation about the Biden family and Burisma in the lead up to the 2020 election."
The tech billionaire said he regretted not being "more outspoken" about the alleged censorship.
Also Watch: <a href="https://www.editorji.com/world-news/elon-musk-s-x-updates-ai-chatbot-after-us-election-misinformation-warning-1724738720528">Elon Musk's X Updates AI Chatbot After US Election Misinformation Warning</a>

The founder of Facebook and the owner of Meta Mark Zuckerberg is the proud owner of everything luxurious. Take a look!

Zuckerberg's Luxuries: A peek into the Billionaire's lavish assets

<h2>The founder of Facebook and the owner of Meta Mark Zuckerberg is the proud owner of everything luxurious. Take a look!</h2>

The inventor of Facebook and the owner of Meta needs no introduction - Mark Zuckerberg. The business magnate's net worth is over $164 billion (approximately Rs 13,69,670 crore), according to an article by Forbes. The billionaire is known for his life-changing innovations in the world of technology.
With such a massive net worth and technical expertise, there is no doubt that Mark owns some of the costliest planes, watches and cars in the world. Let us look at some of the most expensive items owned by the business mogul.
<h3>5 Most expensive items owned by Mark Zuckerberg</h3>
A luxury private aircraft
There is no judging Mark's taste when it comes to expensive rides and technology. The tech billionaire is the proud owner of a Gulfstream G650 (private aircraft). According to a The Financial Times report, Mark Zuckerberg's private jet travel expenses cost Meta around $2.3 million (approximately Rs 19 crore) in 2022. Soon after his expenditures became public, many criticised him online.
Swanky rides
Mark has an expensive luxury car collection including cars like Honda and Acura. The businessman is also the proud owner of a swanky Pagani Huayra which according to a post by South China Morning Post, cost approximately $1.4 million (₹ 11 crores). The two-seater Italian ride features exquisite interiors, and butterfly-style doors and competes with popular luxury brands like Ferrari.
A dreamy superyacht
After Sheikh Mansour bin Zayed Al Nahyan, Jeff Bezos, and other billionaires, Mark Zuckerberg joined the bandwagon and got his hands on a superyacht for $300 million (approximately Rs 2,505 crore).
Named Launchpad, the yacht features multiple decks, a large swimming pool, a helipad, 13 cabins for 26 guests, and a crew of 49 members. Guests can also avail a large range of amenities including a private theatre, a well-equipped gymnasium, a beach club, a jacuzzi, a beauty salon, and more.
Magnanimous properties across the world
The &nbsp;Palo Alto, California house
Mark Zuckerberg's California house is a 500-square-foot lavish home featuring state-of-the-art technology. The house features five spacious bedrooms, a swimming pool, wooden flooring, an entertainment area, a large garden, a fireplace, a separate barbecue zone, a wine room, a greenhouse, a spa room, and more.&nbsp;
Initially, Mark purchased the property for $7 million (approximately Rs 58 crore) but ended up investing a total of $50 million (approximately Rs 417 crore) after he bought four homes nearby and converted them into guest houses.&nbsp;
Other than this, Mark and his wife Priscilla Chan own two waterfront properties on Lake Tahoe in California. The first property, called the Carousel estate, was built in the early '30s, and the other, called the Brushwood estate, was built in the '60s and features a private pier, a guest house, and patios.&nbsp;
Mark and his wife are also proud owners of a 707-acre island in Kauai in Hawaii. According to reports, the businessman spent around $116 million (approximately Rs 968 crore) to acquire the property in 2014.
Land on an island
Fancy buying a portion of land on an island? Well, Mark has been there, done that! He bought 600 acres of land on the Northern shore of Kauai for $53 million (approximately Rs 442 crore).&nbsp;
Also watch: <a href="https://www.editorji.com/lifestyle-news/from-gulfstream-g650er-to-space-x-billionaire-elon-musk-s-5-most-expensive-possessions-1723113704829">From Gulfstream G650ER to Space X Billionaire Elon Musk's 5 most expensive possessions</a> &nbsp;

As per Forbes, Meta chief Mark Zuckerberg accumulated $112.6 billion in the past 12 months with the current net worth estimated at $177 billion and is the richest he&rsquo;s ever been

Mark Zuckerberg's wealth grows by over $100 bn, making him the richest he has ever been

As per Forbes, Meta chief Mark Zuckerberg accumulated $112.6 billion in the past 12 months with the current net worth estimated at $177 billion and is the richest he’s ever been

<h2>As per Forbes, Meta chief Mark Zuckerberg accumulated $112.6 billion in the past 12 months with the current net worth estimated at $177 billion and is the richest he&rsquo;s ever been</h2>

Meta chief Mark Zuckerberg accumulated $112.6 billion in the past 12 months. As per Forbes billionaire ranking Zuckerberg's net worth is estimated at $177 billion and is the richest he&rsquo;s ever been. Meta's shares nearly tripled in value following mass layoffs and big bets on AI and metaverse.&nbsp;
<h3>Mark Zuckerberg becomes richer</h3>
The meta chief has also climbed 12 positions in the billionaire index in the last one year and is now the 4th richest person in the world. A year ago, Zuckerberg was at position 16. It is to be noted that Meta's stock plunged 75% from its 2021 peak following which Zuckerberg resorted to laying off almost a quarter of its staff.
Also Read: <a href="https://www.editorji.com/business-news/meta-loses-3-billion-in-outage-zuckerberg-s-net-worth-drops-report-1709725506304">Meta loses $3 billion in outage, Zuckerberg's net worth drops: Report</a>
This comes after reports of Mark Zuckerberg looking to reorganise his portfolio by selling his $29.6 million mansion in California has emerged. Media reports in early March also claimed that he has bought $300 million yacht during a trip to Netherlands.&nbsp;
Ace investor Bernard Arnault and his family are at number one on the list with a net worth of $233 billion. He is followed by Elon Musk with a net worth of $195 billion and Amazon founder Jeff Bezos who has a net worth of $195 billion.

Mark Zuckerberg on Wednesday shared a post on Instagram in which he announced his passion for cows and beef

Mark Zuckerberg is raising cows by feeding them beer and dry fruits

Mark Zuckerberg on Wednesday shared a post on Instagram in which he announced his passion for cows and beef

Mark Zuckerberg, the big boss of Meta, is a cow lover and has a different approach for raising them. On Wednesday, Zuckerberg shared an Instagram post in which he announced his passion for cows and beef.&nbsp;
He said that he is feeding them dry fruits and beer for the highest quality beef in the world. Zuckerberg said that he is raising cattle- Wagyu and Angus- at Ko'olau Ranch on Kauai.
Mark Zuckerberg said in his post, "Started raising cattle at Ko'olau Ranch on Kauai, and my goal is to create some of the highest quality beef in the world. The cattle are Wagyu and Angus, and they'll grow up eating macadamia meal and drinking beer that we grow and produce here on the ranch."
Zuckerberg also said, "We want the whole process to be local and vertically integrated. Each cow eats 5,000-10,000 pounds of food each year, so that's a lot of acres of macadamia trees. My daughters help plant the mac trees and take care of our different animals. We're still early in the journey and it's fun improving on it every season. Of all my projects, this is the most delicious."
When people came across Mark Zuckerberg's passion project, they reacted by saying that he is a hypocrite as he plans to take care of his cattle just so that he can eat it up. Others reacted to it by giving him a thumbs up for it.&nbsp;
Also watch: <a href="https://www.editorji.com/business-news/mark-zuckerberg-s-hawaiian-haven-underground-bunker-with-30-bedrooms-bathrooms-and-dozen-tree-houses-1702897890777">Mark Zuckerberg's Hawaiian haven: Underground bunker with 30 bedrooms, bathrooms and dozen tree houses</a>

Connecting the mansions will be a tunnel and a 5,000-square-foot shelter with living space, a library to pass the time, an escape hatch for quick exits and soundproof, bomb shelter-like doors made of metal and concrete

Mark Zuckerberg's Hawaiian haven: Underground bunker with 30 bedrooms, bathrooms and dozen tree houses

<h2>Connecting the mansions will be a tunnel and a 5,000-square-foot shelter with living space, a library to pass the time, an escape hatch for quick exits and soundproof, bomb shelter-like doors made of metal and concrete</h2>

Amidst whispers of billionaires fortifying themselves against doomsday scenarios, tales of apocalypse-proof bunkers have captivated imaginations for a while.
Enter the intrigue: Wired magazine's recent expedition into the heart of Meta CEO Mark Zuckerberg's vast 1,400-acre Hawaiian retreat, Koolau Ranch, unveiling the secrets within its colossal scale and construction.
Nestled on Hawaii's oldest island's northeast shore, Meta's CEO, Mark Zuckerberg, is overseeing an ambitious construction endeavor that surpasses the ordinary. This colossal $270 million project comprises two expansive mansions, an entire village of structures, and an underground bunker larger than a basketball court.
Unveiling Unprecedented Luxuries
Reported by Wired, this venture, with $100 million allocated for construction and $170 million for land, stands as one of the most colossal personal undertakings in history. Beyond Candy Spelling's opulence, Zuckerberg's blueprint includes grander plans.
Unprecedented Design and Features
Documentation obtained by Wired unveils extraordinary details&mdash;a combined mansion spanning 57,000 square feet with 30 bedrooms, 30 bathrooms, conference rooms, and an industrial-grade kitchen. Yet, the real intrigue lies in the subterranean elements.
The Underground Marvel
A tunnel links the mansions to a 5,000-square-foot shelter, equipped not only for survival but for comfort&mdash;a library, escape hatch, and bomb shelter-like doors ensure privacy and security. This self-sufficient haven eliminates the need for outside essentials.
A Multitude of Opulent Amenities
Spanning 1,400 acres, the compound boasts guest houses, multiple pools, a gym, sauna, tennis court, and even 11 treehouses interconnected by rope bridges. Yet, controversies simmer&mdash;a contractor's legal tussle over unpaid funds for the treehouses adds a twist.
Shrouded in Secrecy
Zuckerberg's intentions for this lavish hideaway remain elusive, shielded by strict NDAs and a spokesperson's silence. Compounded by a surrounding six-foot wall, speculation swells about the CEO's enigmatic plans, all while evoking curious anticipation for what's next in this extravagant saga.

Recent filings indicate that despite these sales, Zuckerberg still holds upwards of 365 million shares. As of November 30, he retained his position as the ninth wealthiest individual globally, as per the Bloomberg Billionaires Index

Mark Zuckerberg offloads Meta Shares worth around ₹16,000 crore

Recent filings indicate that despite these sales, Zuckerberg still holds upwards of 365 million shares. As of November 30, he retained his position as the ninth wealthiest individual globally, as per the Bloomberg Billionaires Index

In November, Meta's stock soared to nearly a two-year high while CEO Mark Zuckerberg embarked on a consistent selling spree. His filings with the Securities and Exchange Commission revealed a daily offloading of Meta shares throughout the month, tallying up to 560,180 shares sold by November 29. Meta's Stock Surge Amidst Sales&nbsp;
Additionally, a Form 144 filing on Thursday detailed his intent to sell an additional 28,009 shares that same day.Considering the weighted average prices of these sales alongside Thursday's closing figure of $327.15, the collective worth of these shares amounted to $192.9 million (approximately Rs 1,600 crore).
Zuckerberg's indirect ownership of the sold shares encompassed diverse funds, all within the framework of a Rule 10b5-1 trading plan initiated on July 31.
Also read/watch - <a title="Urban youth unemployment peaks in Himachal Pradesh: Labour survey" href="https://www.editorji.com/business-news/economy/urban-youth-unemployment-peaks-in-himachal-pradesh-labour-survey-1701696874920">Urban youth unemployment peaks in Himachal Pradesh: Labour survey</a>
Despite this sell-off, Meta's stock surged by 8.6% in November, marking its third consecutive month of gains. It hit a peak closing price of $341.49 on November 22, the highest since December 30, 2021, before experiencing a pullback.
Meta's Daily Trading Volume Insights
A significant portion of the sold shares were initially acquired by Zuckerberg in 2004 through a "founder stock purchase." Around 150,000 of these shares were obtained at $0 on the days they were sold, acquired through options exercised in 2013.
Recent filings indicate that despite these sales, Zuckerberg still holds upwards of 365 million shares. As of November 30, he retained his position as the ninth wealthiest individual globally, as per the Bloomberg Billionaires Index.
While the sale of over $190 million worth of shares might appear substantial for a single month, the daily average trading volume over the past 30 days has consistently surpassed 19.18 million shares. On average, more than $6.2 billion worth of Meta shares change hands daily.

Brazilian Jiu-Jitsu consists of five different belt colours, starting from white and progressing to blue, purple, brown, and finally, black belt, which is considered the most prestigious 

Mark Zuckerberg earns blue belt in jiu-jitsu; fans say Elon Musk is in trouble

Brazilian Jiu-Jitsu consists of five different belt colours, starting from white and progressing to blue, purple, brown, and finally, black belt, which is considered the most prestigious&nbsp;

Ahead of the potential mega-fight against billionaire Elon Musk, Meta CEO Mark Zuckerberg was promoted to a blue belt in Brazilian Jiu-Jitsu. The 39-year-old Zuckerberg posted an image on his Instagram page over the weekend of him wearing the blue belt, the next belt color above the beginner-level white belt. The post featured snapshots of Zuckerberg and his coach Dave Camarillo, both celebrating their new belt promotions. <a href="https://www.instagram.com/p/CvBTTkvR4oE/?img_index=4">https://www.instagram.com/p/CvBTTkvR4oE/?img_index=4</a> Fans concerned about Elon Musk
The post comes at a time when reports of a potential showdown between tech billionaires Zuckerberg and Elon Musk have gone viral. It began when Musk challenged Zuckerberg for a cage fight and Meta CEO did not back down.&nbsp;
Here are some more reactions from fans on Instagram
"Elon is in trouble"
"Zuck getting ready frfr"&nbsp;
"Elon aint ready"
"Fight Elon!"
"Zuck aint zuckin around" Tensions between Zuckerberg and Musk escalated further when Meta Platforms unveiled their Twitter rival app, Threads, leading to threats of a lawsuit from Twitter, alleging the poaching of their former employees. Mark Zuckerberg's journey in MMA&nbsp;
Prior to this achievement, Zuckerberg garnered attention earlier this year when he won two medals in a Brazilian Jiu-Jitsu tournament held at a Silicon Valley high school. Last September, it was reported that he had taken up mixed martial arts (MMA) training, with his trainer describing him as a "silent killer" in the ring.
Adding to the buzz surrounding Zuckerberg's martial arts journey, Tesla CEO Elon Musk challenged him to a "cage match." Zuckerberg responded by saying, "Send me location," indicating his acceptance of the challenge. However, it remains uncertain whether the fight will materialize.&nbsp;

The CEO of Meta believes that his own Quest VR headsets offer better hardware at more affordable prices.

Mark Zuckerberg slams Apple's Vision Pro as overpriced and lacking innovation

The CEO of Meta believes that his own Quest VR headsets offer better hardware at more affordable prices.

Mark Zuckerberg, the CEO of Meta, has criticised Apple's recently launched Vision Pro headset, calling it a costly product that provides no "magical solutions".
Speaking in a company-wide meeting, Zuckerberg suggested that Meta's own VR Quest headsets are much cheaper and bring people together, in contrast to Apple's promotional videos that show people being isolated.
He noted that Apple made design trade-offs, including offering a metal design and a high-resolution display, but these resulted in a seven-fold increase in cost and requires a wired connection because it does not have an in-built battery.

The profit came on revenue of $28.6 billion and as the number of people using Facebook every month grew to just shy of three billion, an earnings report showed

Mark Zuckerberg’s wealth surges by this much as Meta shares soared 

The profit came on revenue of $28.6 billion and as the number of people using Facebook every month grew to just shy of three billion, an earnings report showed

Facebook parent Meta's founder's Mark Zuckerberg&rsquo;s wealth surged by $10 billion on Thursday after the internet titan reported it made a profit of $5.7 billion in the first quarter of this year, beating forecasts after a massive wave of cost-cutting and layoffs.&nbsp; Meta shares ended 14 per cent higher after the earnings report, lifting Zuckerberg&rsquo;s fortune to $87.3 billion and boosting him up a notch on the Bloomberg Billionaires Index to 12th place, news agency Bloomberg reported. The profit came on revenue of $28.6 billion and as the number of people using Facebook every month grew to just shy of three billion, an earnings report showed. "We had a good quarter and our community continues to grow," said Mark Zuckerberg, Meta founder and CEO. "We're also becoming more efficient so we can build better products faster and put ourselves in a stronger position to deliver our long-term vision." Zuckerberg, who has called 2023 the "year of efficiency," added that artificial intelligence being used at Meta is "driving good results" across its business.

The cuts follow a cull of 11,000 jobs announced by the company in November.

Meta to fire 10,000 people in second round of job cuts

Facebook owner Meta announced a wave of job cuts on Tuesday, part of what CEO Mark Zuckerberg called the company's "year of efficiency".

Meta to fire 10,000 people in second round of lay off

The cuts follow a cull of 11,000 jobs announced by the company in November.

Facebook owner Meta announced a wave of job cuts on Tuesday, part of what CEO Mark Zuckerberg called the company's "year of efficiency" as the US tech sector continues to downsize.
In an email to employees, Zuckerberg said Meta would shed 10,000 jobs over the next few months, targeting middle management, and that 5,000 other roles would remain unfilled. The cuts follow a cull of 11,000 jobs announced by the company in November.

Meta is testing a new subscription service that would let Facebook and Instagram users pay for a verified account 

Facebook and Instagram launch paid subscription for a verified account

Meta is testing a new subscription service that would let Facebook and Instagram users pay for a verified account&nbsp;

After Twitter, now Meta is testing a new subscription service that would let Facebook and Instagram users pay for a verified account.
Meta boss Mark Zuckerberg announced the subscription service for platforms Facebook and Instagram on Sunday, after almost 20 years of defending an economic model based on free services and advertising.&nbsp;
<h3>Facebook &amp; Instagram paid subscription&nbsp;</h3>
For USD 11.99 per month on the web or USD 14.99 per month on Apple and Android operating systems, Meta will use a government identification to verify a user's account and give the account a blue badge. Previously, Meta's blue badges were free and reserved for notable public figures or businesses.
Subscribers will also get extra protection against account impersonation and direct access to customer support, Meta said.
&ldquo;This new feature is about increasing authenticity and security across our services," Zuckerberg said in his message.
Meta said public figures and others who were previously verified won't be affected by the change. Meta Verified is aimed at influencers and others who use social media for their business but aren't notable public figures.

Meta Platforms-the parent company of Facebook, Instagram and WhatsApp has announced  that it is firing 11,000 employees as part of cost-cutting strategy

In one of biggest layoffs this year, Meta fires 11,000 employees 

Meta Platforms-the parent company of Facebook, Instagram and WhatsApp has announced &nbsp;that it is firing 11,000 employees as part of cost-cutting strategy

In one of the biggest tech layoffs in the United States this year Meta Platforms will let go of 13% or more than 11,000 employees.
Meta has also extended its hiring freeze through the first quarter.
In a message to its employees, CEO Mark Zuckerberg said the company is taking steps towards cutting costs after recording a rise in overall costs of the company by a fifth in the past quarter.
Meta would pay 16 weeks of base pay plus two additional weeks for every year of service as a part of the severance package. Employees will get healthcare benefits for six months&nbsp;
The pandemic boom that boosted tech companies and their valuations has turned into a bust this year in the face of decades-high inflation and rapidly rising interest rates.
Also watch: <a href="https://www.editorji.com/world-news/meta-lays-off-11-000-employees-here-s-what-mark-zuckerberg-said-1668001035413">Meta lays off 11,000 employees: Here's what Mark Zuckerberg said</a>
The broad job cuts, the first in Meta&rsquo;s 18-year history, follow thousands of layoffs at other major tech companies including Elon Musk-owned Twitter and Microsoft Corp.

Top-level exits continue at Meta India as Whatsapp India head and Meta India public policy head resigned from their posts on Tuesday

WhatsApp India head and Meta India public policy director quit

Top-level exits continue at Meta India as Whatsapp India head and Meta India public policy head resigned from their posts on Tuesday

Abhijit Bose, Head of WhatsApp India and Rajiv Aggarwal, Director of Public Policy at Meta India, have resigned from their positions.&nbsp; This comes less than a week after Meta announced its biggest layoffs ever, cutting around 11,000 jobs across the globe.&nbsp;
Shivnath Thukral, Director of WhatsApp Public Policy in India, has now been made Director, Public Policy for all Meta brands in India.
Earlier this month, Ajit Mohan, the head of Meta in India, had stepped down from his role. Soon it was announced that he was joining rival Snap as president, Asia-Pacific.
Also watch: <a href="https://www.editorji.com/business-news/watch-what-mark-zuckerberg-said-while-firing-11-000-meta-employees-1668146725352">What Mark Zuckerberg said while firing 11,000 Meta employees</a>

The tech industry is in a serious slump and several major firms have announced mass layoffs -- Twitter's new owner Elon Musk fired half its staff last week

Watch: What Mark Zuckerberg said while firing 11,000 Meta employees

Here's what Mark Zuckerberg said while firing 11,000 Meta employees

The tech industry is in a serious slump and several major firms have announced mass layoffs -- Twitter's new owner Elon Musk fired half its staff last week

A leaked video of Meta boss Mark Zuckerberg is surfacing on socail media, where he said "the most difficult changes we've made in Meta's history".&nbsp;
He further said the cuts represented 13 percent of the social media titan's workforce and would affect its research lab focusing on the metaverse as well as its apps, which include Facebook, Instagram and WhatsApp.
"I want to take accountability for these decisions and for how we got here," Zuckerberg said in a note to staff.
"I know this is tough for everyone, and I'm especially sorry to those impacted."
Ad-supported platforms such as Facebook and Google are suffering with advertisers looking to cut costs as they struggle with inflation and rising interest rates.
Zuckerberg told his 87,000-strong staff he had expected the boost in e-commerce and online activity during the Covid pandemic to continue, but added: "I got this wrong, and I take responsibility for that."

Meta lets go 11,000 employees: Here's what Mark Zuckerberg said

Meta lays off 11,000 employees: Here's what Mark Zuckerberg said

Zuckerberg cited investments in e-commerce as one of the major factors for company's downsized growth.

Zuckerberg cited investments in e-commerce as one of the major factors for company's downsized growth.

Announcing lay off of about 13% workforce, Meta CEO Mark Zuckerberg said the move has been taken to become a leaner and more efficient company.
In a blogpost on <a href="https://about.fb.com/news/2022/11/mark-zuckerberg-layoff-message-to-employees/" target="_blank" rel="nofollow noopener">company's website, </a>Zuckerberg held himself accountable for the decision giving a step-by-step break up of what lies ahead.
Zuckerberg cited investments in e-commerce as one of the major factors for company's downsized growth.
He said over 11,000 affected employees of the company will be given the maximum possible support including cost of health insurance, 16 weeks of base pay to make the process feasible for them.
Among the other cost-cutting measures, the company will be transitioning to desk sharing for people to bring in a meaningful cultural shift in the way Facebook operates.
All the changes, in Zuckberge's words, have been made to accelerate revenue which was lower than expected at the beginning of this year.
Zuckerberg said he wants to ensure that the company operates efficiently across Family of Apps and Reality Labs.
Calling it a sad moment, Zuckerberg said Meta is being deeply underestimated but that he is confident that it will work more efficiently.&nbsp;
Also watch: <a href="https://www.editorji.com/business-news/in-one-of-biggest-layoffs-this-year-meta-fires-11-000-employees-1667997435199">In one of biggest layoffs this year, Meta fires 11,000 employees</a>

The stock decline knocked Zuckerberg down from the 25th richest person in the world to the 29th richest

Mark Zuckerberg lost 61% of his wealth this year; here's how

From 3rd richest to 23rd, Mark Zuckerberg lost 61% of his wealth this year; here's how

From 3rd richest to 23rd, Mark Zuckerberg lost 61% of his wealth

The stock decline knocked Zuckerberg down from the 25th richest person in the world to the 29th richest

Seems like nobody&rsquo;s had the roughest one year than Mark Zuckerberg as the Facebook founder, who now runs the rebranded platform called Meta, has lost the most amount of money than anyone else in the world in that period of time. Mark Zuckerberg&rsquo;s net worth fell $11 billion to $36 billion as the company&rsquo;s shares plummeted a day after it reported dismal quarterly earnings. Not only this, Meta shares fell 25% to $97.94, pushing the stock to its lowest point since December 2016. In its third quarter earnings released, the social media giant reported a 50% decline in profits and revenue sliding by 4%, far below analyst expectations. Zuckerberg holds more than 350 million shares in Meta, according to the company&rsquo;s latest proxy statement. At one point, he was third on the Bloomberg wealth index, trailing only Jeff Bezos and Bill Gates. And today, he ranks at 23rd.

Bloomberg reports that Meta has put all hiring on hold.  News reports in May suggested that the company would slow down the rate of new hires this year.

Meta announces hiring freeze, Zuckerberg blames economy

According to Bloomberg reports that Meta CEO Mark Zuckerberg announced plans to stop hiring and restructure some groups within the company.

<ul class="summary-list">
<li>Zuckerberg said most team budgets would be reduced</li>
<li>Meta CEO Zuckerberg reportedly announced a hiring freeze to employees</li>
</ul>

As the tech industry suffers through a slowdown in recent months, Facebook&rsquo;s parent company Meta announced hiring freeze and &ldquo;further restructure&rdquo;.&nbsp;
Acoording to reports, Zuckerberg made these comments during an internal call to employees.
Zuckerberg also said that Meta would reduce budgets across most teams, and that individual teams will have to resolve how to handle headcount changes, the report added.
Zuckerberg reportedly added that budgets will be slashed across most teams at Meta, which owns Facebook, Instagram and WhatsApp.
The announcement comes after several tech companies have been forced to slash headcount in recent months, as advertisers trim spending in anticipation of a recession.

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