META has refuted rumors that the organization’s billionaire CEO, Mark Zukerberg, is considering retiring, describing the news as “false”.
Insiders told Daily Mail UK that the 38-year-old has made the decision to resign as CEO of META, the parent company of Facebook and Instagram.
They said that the decision “would not influence” Zuckerberg’s multibillion-dollar virtual reality initiative, the Metaverse, which has cost the business at least $30 billion.
However, the company’s communications representative, Andy Stone, tweeted on Tuesday that the rumors were untrue. He only wrote “This is false” in a tweet.
The claims emerged in response to the company’s recent revelation that it would be firing a sizable portion of its workforce due to declining business results.
Analysts and investors have attributed the company’s failure on Zuckerberg and other executives’ decision to turn their attention to the Metaverse, which hasn’t attracted enough interest yet.
Although the social media juggernaut’s share prices have dropped by over 70% over the past year, they were on the rise after the announcement.
