The stock positions always keep changing. Sometimes, these have a huge impact on the people who have billions of dollars. Something similar happened earlier. The Facebook CEO and founder Mark Zuckerberg’s net worth decreased because of the stock plunge. According to the news, Mark lost almost 16 billion US dollars in a single day because of the stock position.
Mark Zuckerberg’s Net Worth
According to Forbes, before the second quarter results, the CEO had 77.6 billion net worth. After the stock dropped, the net worth is now down to 68.9 billion dollars. It makes his net worth less than Warren Buffet who is the CEO of Berkshire Hathaway.
Facebook has been in the spotlight and has been facing intense scrutiny because of the fake news about data protection and privacy.
The Number of Users
According to the news agencies the extent of fallout because of the Cambridge Analytica scandal and the new European privacy law, the numbers are not clear. In Canada and USA, the number of people who use Facebook on a daily basis is 185 million. However, the number is falling in Europe. It is now 282 to 279 million users per day!
It is a huge crisis and one of the company’s active investor earlier said that Mark Zuckerberg should not be the Chairman of the company anymore. He said that after citing the company’s current quantity of crises.
Development to decline in the next two quarters
According to the CFO David Wehner, “the sales development is most likely to decline in the next two quarters” the reason for that he said was, “As it prioritizes new formats such as Stories (a famous function on Instagram) which reduces the level of monetization.”