Facebook Falters? Since Trump's victory, Facebook CEO Mark Zuckerberg Lost $3.9 Billion
After the presidential election, it has been reported that Facebook founder Mark Zuckerberg has lost around $3.7 billion in net worth. According to Forbes magazine, the downfall was based on a 7% decline in Facebook's share price between Election Day and December 2.
Nevertheless, Zuckerberg's loss hasn't affected his financial standings, he is still the 5th richest man in the world as claimed by Forbes real time rankings and still is worth $49 billion. After the President-elect Donald Trump's success, reports confirmed that many billionaires benefited from his victory adding a combined $9.4 billion to their net worths.
Overtaking him is Microsoft founder Bill Gates, who is worth estimated a whopping $82.7 billion and is still the world's richest man. No.2 on the Forbes list is the Spanish businessman named Amancio Ortega, owner of the clothing Inditex, who has 7000 stores in 91 markets and who is estimated worth around $72.5 billion.
Throughout the social media sites, people were updated with the events around the world. A lot of fake news circulated in the social media sites. It was reported that a lengthy note was written by Mark Zuckerberg several days after Trump's victory.
Facebook's stock downfall wasn't really caused by the fake news controversy or the presidential transition. Shares did decrease after hitting an all-time high in mid-October. Zuckerberg also added in his initial note that he promised to "disrupt fake news economics," by not allowing content publishers from using its ad-placing technology.
The owner of Berkshire Hathaway, Billionaire Warren Buffer, now is the 3rd wealthiest person at $71.5 billion in net worth after Trump's success adding $6 billion to his net worth. Amazon founder, Jeff Bezos, is worth $64.1 billion making him fourth on the list.
Larry Ellison, the founder of Oracle, is worth $47.8 billion making him 6th richest person in the world. Carlos Slim Helu, a Mexican Telecommunications magnate, lost a staggering $4.6 billion after Trump's victory, bringing him down to 7th richest in the world. Koch brothers are worth $42.6 billion, placing them 8th and 9th richest. Last on the list is Michael Bloomberg, owner of Bloomberg LP, at $41.4 billion making him the 10th richest person in the world.