Facebook’s Mark Zuckerberg change of heart just cost him $3.3 billion
Facebook’s Mark Zuckerberg saw his fortune fall $2.9 billion after he posted plans to shift users’ news feeds toward content from family, friends at the expense of material from businesses
New York: Mark Zuckerberg’s latest Facebook post is proving expensive.
The co-founder of the world’s largest social-media business saw his fortune fall $2.9 billion on Friday after he posted plans to shift users’ news feeds toward content from family and friends at the expense of material from media outlets and businesses.
Shares of Menlo Park, California-based Facebook tumbled 3.9% at noon in New York, cutting Zuckerberg’s fortune to $74.4 billion on the Bloomberg Billionaires Index. If that decline holds through the close of trading, he will lose his place as the world’s fourth-richest person to Spanish retail billionaire Amancio Ortega.
The drop wipes out much of the $4.5 billion Zuckerberg, 33, has added so far this year. The world’s 500 richest people gained $1 trillion in 2017 and an additional $17 billion in the first two weeks of 2018, according to the Bloomberg index. Bloomberg
- New-gen Adobe Photoshop is coming to Apple’s iPad
- Amazon Great Indian Festival sale ends today, here are some smartphones you can consider
- How to check what Facebook hackers accessed in your account
- Facebook: Hackers accessed 29 million accounts, fewer than thought
- Sony Bravia OLED A9F: A near perfect TV, only if you can afford it
- Banks turned wary of NBFCs months before IL&FS defaults
- HUL Q2: Rising input costs face off against healthy demand growth
- Q2 results: DMart finally set to face a reality check
- Temporary staffing: Decent employee additions, margin pressures may sustain
- Gujarat relief for Tata Power, Adani Power underlines sector’s harsh reality