Despite the fact that Meta missed Wall Street revenue projections for the first quarter and experienced its weakest revenue growth in years, investors cheered the company’s improvement in user counts, which is an important metric for advertisers.

Meta’s dismal fourth-quarter results, which sent shares plunging in early February in the largest single-day wipeout on Wall Street ever, were in stark contrast to the ecstatic reaction on Thursday. That loss also pushed Zuckerberg, who owns 13% of Meta, down to ninth place among the world’s billionaires, according to Bloomberg’s Billionaire Index.

With a net worth of $65 billion as of Wednesday’s close, Zuckerberg was rated No. 18 on the list. The surge on Thursday should propel him up a few slots, bringing his net worth to around $76 billion.

Despite the fact that Meta (FB) was up on Thursday, the company is still down 39 percent for the year and faces significant headwinds.

The company is competing with TikTok, is failing to monetize popular video content, and is suffering disruption in its main advertising business as a result of Apple’s new privacy policies.

Meta also stated that Russia’s war in Ukraine has harmed its business — Facebook and Instagram were recently prohibited in Russia — and that it anticipates such issues to continue in the current quarter.

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Britain’s Financial Conduct Authority (FCA) senior adviser Liza Lovdahl Gormsen represents Facebook between 2015 and 2019 in the lawsuit. In the lawsuit filed, it states that Facebook has generated billions of pounds from unfair terms. The terms include conditions that users need to surrender valuable personal data to join the growing network.

Facebook stated, “They [consumers] have meaningful control of what information they share on Meta’s platforms and who with.”

This questions the ethics involved with big tech companies obtaining data from users. At which point will they have the right to sell that data to other companies. Growing concerns on the security of data have been ongoing for years. Users’ privacy is being breached in a way when they become the target of companies in their marketing. Many lawsuits have been filed against Facebook in the United States where lawmakers are trying to limit the power of tech companies.

Facebook is the number social platform that many people would use to connect to family and friends. While it is true that they have agreed to the terms and conditions of joining the network, they didn’t have much choice at that time. The lawsuit puts in light the thought – “hand me your data before you can join”. We are now in the question of “how valuable is our data” and “what are we giving up” if we sign these terms?

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