You are here: Home » International » News » Companies
Business Standard

This one Facebook post cost Mark Zuckerberg a whopping $3.3 billion

Shares of Menlo Park, California-based Facebook tumbled 4.5 per cent on Friday in New York, cutting Zuckerberg's fortune to $74 billion

Tom Metcalf | Bloomberg 

Facebook CEO Mark Zuckerberg  Photo: AP/PTI
Facebook CEO Mark Zuckerberg Photo: AP/PTI

Mark Zuckerberg’s latest post is proving expensive. The co-founder of the world’s largest social-media business saw his fortune fall $3.3 billion on Friday after he posted plans to shift users’ news feeds toward content from family and friends at the expense of material from and businesses. Shares of Menlo Park, California-based tumbled 4.5 per cent on Friday in New York, cutting Zuckerberg’s fortune to $74 billion on the Index.

He lost his place as the world’s fourth-richest person to Spanish Amancio Ortega. The drop wiped out much of the $4.5 billion Zuckerberg, 33, had added this year through Thursday. The world’s 500 richest people gained $1 trillion in 2017 and an additional $192 billion in the first two weeks of 2018, according to the Bloomberg index.

First Published: Sat, January 13 2018. 09:48 IST
RECOMMENDED FOR YOU