Home / World News / This one Facebook post cost Mark Zuckerberg a whopping $3.3 billion

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

Facebook CEO Mark Zuckerberg Photo: AP/PTI

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Facebook CEO Mark Zuckerberg speaking at the World Mobile Congress in Barcelona, Spain, Monday, March 2, 2015 <b>Picture by AP/PTI</b>

Tom Metcalf | Bloomberg

Last Updated : Jan 13 2018 | 9:57 AM IST

Mark Zuckerberg’s latest Facebook 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 media outlets and businesses.

Shares of Menlo Park, California-based Facebook tumbled 4.5 per cent on Friday in New York, cutting Zuckerberg’s fortune to $74 billion on the Bloomberg Billionaires Index. He lost his place as the world’s fourth-richest person to Spanish retail billionaire 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.