Facebook founder and CEO Mark Zuckerberg lost USD $15.7 billion today as Facebook stocks plummeted by 19%, reports CNN.
Facebook lost USD $119 billion in market value as the share price plunged – reportedly the largest single-day loss for any public company in history. The sell-off followed an earnings report showing growth in users and ad revenue had been slower than expected. Investors also appear to have been alarmed by an alert from Facebook executives that revenue growth would slow as the company refocuses on improving user privacy.
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Facebook lost USD $119 billion in market value as the share price plunged – reportedly the largest single-day loss for any public company in history. The sell-off followed an earnings report showing growth in users and ad revenue had been slower than expected. Investors also appear to have been alarmed by an alert from Facebook executives that revenue growth would slow as the company refocuses on improving user privacy.
Continue reading…
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