Mark Zuckerberg Loses $17 Billion In Just Two Hours

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Facebook CEO Mark Zuckerberg speaks during the Oculus Connect 4 product launch event in San Jose, California, on Oct. 11, 2017. MUST CREDIT: Bloomberg photo by David Paul Morris.

Facebook’s stock took a beating Wednesday — before being utterly pummeled.

Immediately following the company’s disappointing earnings report — in which it reported worse-than-expected user growth and revenue — investors sent its shares tumbling.

At one point, the company’s stock was down nearly 24%, and its valuation had fallen by a whopping $148 billion.

Mark Zuckerberg personal fortune took $16.8 billion loss in the market dive, temporarily dropping him four spots on the world’s richest person’s list. The stock, along with Zuckerberg’s fortune, recovered somewhat as the day went on. Read more at Yahoo News.

{Matzav.com}

8 COMMENTS

  1. Fake news. This all means nothing.
    The stock market is one huge Ponzi scheme. It’s a game of Russian roulette. Ever wonder why people use the expression “play the market”? What do you mean play? Is it all a game? Do you use such a term about your job? Yes, I’m going to play accounting today. I’m going to play dentist today. I’m going to play real estate today. I’m going to play school bus driver today? Etc etc. The stock market is a non logical system where only the insiders can make a quick buck. When you work at a normal job, you get paid a salary. You work hard, you see results. With the stock market you get nothing. A common shareholder doesn’t own Microsoft any more than a cat owns my backyard.

    • Not much of a financial expert, are you?

      Doctors practice medicine.
      Lawyers practice law.
      L’havdil, we have more talmidei chachamim then chachamim.

  2. OK but if he lost 17 billions, it means he had them previously. For one, I regret to say I can not lose 17 billion dollars, no matter what the stock market does. Pity.

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