Mark Zuckerberg Lost $15 Billion This Year


Menlo Park:  Facebook founder Mark Zuckerberg has lost a quarter of his net worth this year. At the beginning of 2018, Zuckerberg’s net worth was about $75 billion. Year 2018 is coming to an end and his net worth is $15 billion lesser at $57 billion now. He has lost the most among the world’s 500 richest people, reported Times Magazine.

It may be noted that most of Zuckerberg’s fortune is comprised of his 13 per cent stake in Facebook and after accusation of Facebook’s interference in elections, Cambridge Analytica user data breach, data privacy violations and genocide of Rohingya Muslims, Facebook stock prices dropped. His net worth has come back to how much it was 2 years ago.

Following Cambridge Analytica news break, Zuckerberg temporarily lost about $13 billion and this forced him to concede that his company might have made a mistake by not doing something about the data breach.

Worth mentioning here is that social media giant Facebook suffered the worst single-day loss in the U.S stock market history. In July this year, Facebook stocks plunged 20% in a day. When the market closed on July 25, the stock was at an all-time but, it opened 20% lower on 26th and by the time market closed on July 26, Zuckerberg had already lost $15.9 billion.

It is to be mentioned that Mark Zuckerberg entered the Forbes’ World’s Billionaires List in 2008 and has remained in top 10 since then. Despite such massive loss this year and his net worth going down by $15 billion, he is still the fifth most richest man in the world.