Business News News World

Zuckerberg loses $6bn in hours, drops to 5 on Billionaires Index

Facebook founder and Chief Executive Officer (CEO), Mark Zuckerberg’s personal wealth has fallen reduced by more than $6 billion in a few hours, knocking him down a notch on the list of the world’s richest people.

The drastic reduction in his net worth was largely due to a revelation by a whistleblower and also outages that affected Facebook Inc.’s flagship products.

The flagship products include Facebook, Facebook Messenger, Instagram, and WhatsApp.

According to a report by Yahoo Finance, a selloff sent the social-media giant’s stock plummeting 4.9% on Monday, adding to a drop of about 15% since mid-September.

The stock slide on Monday sent Zuckerberg’s worth down to $121.6 billion, dropping him below Bill Gates to No. 5 on the Bloomberg Billionaires Index. He’s down from almost $140 billion in a matter of weeks, according to the index.

Source: www.vanguardngr.com

Related posts

Sudan’s ousted PM says solution hinges on return of govt

admin

UN says detention of Sudan civilian leaders ‘unacceptable’

admin

Kenya’s agenda as it prepares to assume UNSC one month presidency

admin

Leave a Comment