Update: Facebook's stock drop last week has gone down as the biggest single-day loss in the history of the stock market. The social media company lost $190 billion within minutes of announcing a horrible quarterly report. This was the first time in the 126 year history of the US stock market where a company lost over $100 billion in a single day. In 2000 Intel lost $90 billion a day, and in the same year, Microsoft lost $80 billion.
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According to Bloomberg, Mark Zuckerberg lost $16.8 Billion in an instant after Facebook stock prices dropped.
The shares for Facebook reportedly dropped 20 percent. The massive drop caused the company to lose almost $100 billion in market value according to reports Because of major $16 billion loss, Zuckerberg moved down on the Bloomberg Billionaires Index. Many believe the issues are stemming from the data laws situation happening in Europe, which Facebook has been getting criticism for after having many privacy and content policy problems.
Zuckerberg’s billion-dollar drop now puts him at number six on the world billionaires list, with a net worth of almost $70 billion.
Source: bloomberg.com
