Facebook stock has plunged nearly 7% on Monday because of the data controversy between facebook and Cambridge Analytica. Which has led to Trump’s Election Campaign stating that the company Cambridge Analytica have reportedly pulled information of 50 Million Facebook users. Even after the massive drop of stock value, Facebook is one of the most valuable companies in the world.
Mark Zuckerberg owns 400 Million Shares on Facebook and his Net plummeted by $5 Billion Dollars. Zuckerberg still owns about $69.5 billion worth of Facebook shares. That’s enough to make him the sixth richest man in the world, according to Forbes’ real-time billionaire tracker compared to just under $75 billion when the stock market closed on Friday. Forbes’ data indicated that Zuckerberg’s wealth was down as much as 6.7%—a loss on paper of an astounding $5.1 billion in a scant few hours on Monday.
Facebook stock had since recovered, and as of Friday Zuckerberg’s wealth was up $2.5 billion for the year to date, according to the Bloomberg Billionaire Index. Yet as Facebook shares took a beating on Monday, Zuckerberg went into the red for the year, with a tentative drop in net worth of $2.2 billion thus far in 2018.
The Facebook founder isn’t the only tech billionaire looking at a steep loss on Monday. Shares of Alphabet, the parent company of Google, were down 4%, and the net worths of company founders Larry Page and Sergey Brin had each fallen roughly $1.5 billion, according to Forbes.
Jeff Bezos is becoming a much better 2018 than Mark Zuckerberg in times of net worth. Whereas Zuckerberg’s stock has been hit with a net decrease, Bezos is up about $30 billion so far this year.
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