Facebook CEO, Mark Zuckerberg Loses $16.8Billion In 2hrs, More Than Aliko Dangote’s Entire Networth

Facebook CEO Mark Zuckerberg’s net worth has fallen more than $16 billion after the company was reported weaker-than-expected second-quarter results and issued guidance that its financial future isn’t as rosy as some investors thought it might be.

However, set against this backdrop, one activist investor wants Zuckerberg out as the firm’s chairman. You could imagine what the could do to the company.

Zuckerberg recently sparked outrage when he described Facebook’s handling of content from Holocaust deniers on the social network. He subsequently backtracked on his comments.

Fake news remains an ongoing struggle for the social media giant. Earlier this week, the company was slammed by the parents of a Sandy Hook massacre victim for the hoax claims that emergedon the platform.

Facebook has also been sucked into the probe into alleged Russian meddling in the 2016 presidential election.

The extent of the fallout from the Cambridge Analytica scandal and the new European privacy law, known as General Data Protection Regulation (GDPR), is not yet clear. In the U.S. and Canada, Facebook’s daily active users remained flat sequentially at 185 million, while the number actually fell in Europe, falling to 279 million, down from 282 million.


Citing the company’s “mishandling” of a number of crises, one activist investor has filed a proposal that Zuckerberg be removed as the company’s chairman, Fortune reports.

Facebook has been firmly in the spotlight in the wake of the Cambridge Analytica data sharing scandal and has also come under intense scrutiny thanks to the proliferation of fake news on the platform, something Zuckerberg apologized for.

“We have a responsibility to protect your data, and if we can’t then we don’t deserve to serve you.”

– Mark Zuckerberg
Prior to Facebook’s second-quarter results, Zuckerberg had a net worth of $77.6 billion, according to Forbes. After the stock selloff, Zuckerberg’s net worth fell to roughly $68.9 billion, making him worth less than Berkshire Hathaway CEO Warren Buffett.

Facebook’s market cap has fallen roughly $120 billion, or the amount General Motors, Ford and Target are worth combined.

On its earnings call, CFO David Wehner said sales growth is likely to decline in the next two quarters as it prioritizes new formats such as Stories (a popular feature on Instagram) and continues to invest in privacy.

HERE’S WHAT HE SAID

“We plan to grow and promote certain engaging experiences like Stories that currently have lower levels of monetization, and we are also giving people who use our services more choices around data privacy, which may have an impact on our revenue growth,” Wehner said on the conference call.

Some Wall Street analysts were still confident about the company’s future, but admitted that things were murkier after the results, especially in light of the recent European privacy laws, which went into effect in late May.


http://naijablog.ng/2018/07/30/breaking-facebook-ceo-mark-zuckerberg-loses-16-8billion-in-2hrs-more-than-aliko-dangotes-entire-networth/

ALSO READ >>>. http://naijablog.ng/2018/07/30/nigeria-international-passport-has-just-been-extended-to-10-years-validity-period/

Interesting

You for don gimme 1billion dollars, your money for no disappear.

please na beg I dey beg, I wan melt. just gimme the $1b

medexico:
You for don gimme 1billion dollars, your money for no disappear.

If you see $1bn you will melt.

That moment dangote is your boy


Like dele is to davido

This money too loud o

Check my signature for high Samsung phones

ovoko

Na wah for that kind of stupendous 'wealth' that can disappear in the twinkling of an eye. Meaning the guy can even go broke overnight by losing his entire networth the same way sef. That ain't real wealth to me jorr. It is only 'on paper' type of wealth.

he is going to bounce back

Hushpuppi is RICHER than both of them jare!

d way dem dey mention these kind money b like say no b same world we dey

Facebook's fortunes is dipping at an alarming rate, what could be the cause?

okoko bioko

Who is doing this subtraction and addition biko?

This life sef

Chukwu Okike Abiama is dealing with him just as I promised him on Facebook for all his conspiracies with the zoo government against IPOB and Biafra quest and for frustrating the Facebook accounts of many IPOB members including mine. This is where he's still in Genesis meaning it haven't started, let him wait till he gets to Malachi, then he would understand that no one who works against Biafra either directly, indirectly or verbally will go unpunished, it's just a matter of time.
AllHailBiafra!!!

Side effects of investing in technology anything could go wrong at any time..Dangote on the other hand makes his money from cement and household cooking items

Sometimes I just want someone to hug me and say, "I know it's hard. You are going to okay. Here is chocolate and 6 million dollars."

Jethrolite:
If you see $1bn you will melt.

i want to melt sef

I keep saying this, DANGOTE is not the richest in Nigeria.
D guy no too get money like that.
They are many richer guys in this Nigeria but on a super low key.

choiiiii

Ehn normal thing for a bet9ja gamblers...

God bless you if you are into colour colour or Ajansare aka Aja 1...all your net worth, and the money wey dey use send you message GBAM... Is gone between 2 minute....

Come let season start THEN you will see net worth for gutter

which also means that Dangote can go from being one of the wealthiest men to becoming a poor man that Abacha's son insinuated he was years back.

Morale: stay humble, there's nothing to life worth dying for, cos no matter how it goes, you'll never make it outta here alive

LesbianBoy:
Hushpuppi is RICHER than both of them jare!

Really love ur level of stupidity.....so amazing

Jethrolite:
If you see $1bn you will melt.

That's 360Billion Naira.
Even village people can't affect that money.

he will get it back, cause info rules the world and he is neck deep in it.

In otherwords, Dangote money still dey learn for where Mark Nsukkabag money dey.


Anyways, I was thinking...
A human came out of a human because a human came in a human.
Hit like if u get this shit.

Fake news is detriment and rampantly garners even more likes and shares than real news.

I won't be entirely surprised if some people here still attribute this to Buhari's fault