Facebook suffers its worst loss ever in history
- IndiaGlitz, [Friday,July 27 2018]
Social media giant Facebook experienced its worst trading day ever with drop down in value over $US 119 billion. This is one of the biggest falls for a company in the American stock market history. It is also worth noting here that Facebook’s share price dropped by a whopping 19 percent.
As a consequence of this drastic fall, the net worth of Mark Zuckerberg also reduced by 15%. His net worth has dropped down to about $67 billion according to Forbes. The total drop in the value of Facebook is almost the entire market value of corporations like McDonald’s, Nike and IBM.
As a result, Mark Zuckerberg from being the world’s third richest man has come down to the sixth spot below Berkshire Hathaway’s Warren Buffet and Zara founder Amancio Ortega. Zuckerberg is Facebook’s largest share holder with about 12.8% stake in the company.