Facebook's $148 billion nosedive means Mark Zuckerberg could tumble down Bloomberg's Billionaire Index
Following Facebook's astonishing fall in market value on Wednesday , CEO Mark Zuckerberg is at risk of losing third place on Bloomberg's Billionaires Index .
The social network's value plunged nearly 24% after its disappointing Q2 earnings report and executives (including Zuckerberg) warning of slowing revenue growth. Shares recovered slightly, closing after-hours trading down 20.2% at $217.50.
Bloomberg reports that Zuckerberg's fortune took a hit of $16.8 billion as a result, and that if Facebook's drop in value holds through to end of trading on Thursday, then he will slip down its Billionaires Index by three places.
Zuckerberg is currently worth $86.5 billion, but the loss would push him under the $70 billion mark. This would mean he drops from number three to number six, putting him behind Amancio Ortega, the founder of retail chain Zara. The loss would also negate his $13.7 billion of gains for the year.
Venezuela in crisis: 'There is no water, no power, no nothing'101013.04.2019, 19:05
Google hit with €1.49bn fine from EU over advertising315220.03.2019, 16:05
Trump targets India and Turkey in trade crackdown358405.03.2019, 11:55
Troika laundromat revelations make the case for tougher supervision of europe’s banking sector295304.03.2019, 21:15
Iran ready to export more gas to Armenia: Rouhani308327.02.2019, 16:20
Nikol Pashinyan: "Yerevan is ready to play a role in transit of Iranian gas"284227.02.2019, 15:45