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Friday, 4 November 2016

CNN: Mark Zuckerberg lost $3 billion in a single day after Facebook Warning





Friday 4 November, 2016

Mark Zuckerberg had a terrible, horrible, no good, very bad day.


The Facebook founder suffered a $3 billion loss in the value of his Facebook stock on Thursday, one of the largest single-day losses ever for an individual investor.

Facebook (FB, Tech30) shares plunged 5.5% after the chief financial officer warned investors that the company expects revenue growth from advertising to "come down meaningfully."

Zuckerberg holds 418 million shares of Facebook stock -- still good for about $50.2 billion.

Related: Biafra: Radio Biafra Facebook Attack is Mark Zuckerberg's Signature: But in the end IPOB Must win-By Okoro Austine

Bloomberg estimates Zuckerberg's total net worth at $52.2 billion, ranking him as the fifth-richest man in the world, just behind Warren Buffett. And despite Thursday's plunge, Facebook shares are up nearly 15% for the year, lifting Zuckerberg's net worth by $6.4 billion.

Source: CNN

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