Mark Zuckerberg No Longer the Fourth Richest Man in The World
Just this weekend, you could have called Mark Zuckerberg the fourth richest man in the world but that is not the case anymore. In the past 48 hours, the Facebook founder has lost $9 billion in wealth, tumbling from the fourth ranking of the richest men in the world to sixth or seventh. The decrease in wealth was due to the data scandal currently plaguing Facebook.
Bloomberg Billionaire’s Index reported that Zuckerberg’s $75 billion fortune came down to $66 billion by the time the stock closed on Friday. This was because the data of a lot of Facebook’s users was misused by a British firm working for the Trump administration. The huge scandal has clearly cost millions to the company as witnessed by Mark Zuckerberg, who owns around 400 million shares of Facebook, losing a chunk of his fortune.
This is not only harmful for the founder himself, but to the millions of shareholders the company has. Zuckerberg had planned to sell about 35 to 75 million of Facebook shares this year but now their value has dropped $1.7 billion. The amount of his loss is greater than the complete net worth of about more than 1000 billionaires of the world except for 170 of them.