- Mark Zuckerberg’s net worth fell nearly $US9 billion to $US62.3 billion following a year of Facebook scandals, according to Forbes.
- Zuckerberg’s personal wealth is closely linked to Facebook’s fortunes because he owns nearly 17% of the company’s stock.
- The Facebook founder also lost his crown as the youngest-ever self-made billionaire to Kylie Jenner.
Mark Zuckerberg is out of pocket by nearly $US9 billion on last year following a disastrous 12 months for Facebook.
According to Forbes’ 2019 billionaire’s list, Zuckerberg’s net worth stands at $US62.3 billion, down from $US71 billion at the same time last year. He dropped three places down Forbes’ ranking to 8th place.
Just days after Forbes published its list in 2018, The Observer and The New York Times published revelations about the Cambridge Analytica data breach.
It proved to be the catalyst for a string of scandals for Facebook, encompassing issues including election interference on its platform, harmful content, and crisis mismanagement.
The issues took their toll on Facebook’s stock price, which fell by more than $US50 over the course of the year, starting 2018 at $US186.85 and ending on December 31 at $US131.09. Facebook has since rallied to $US171.26 in 2019.
Zuckerberg’s personal wealth is closely linked to Facebook’s fortunes because he owns nearly 17% of the company’s stock, according to Forbes.
The Facebook founder also lost his crown as the youngest-ever self-made billionaire to Kylie Jenner, Forbes said. Zuckerberg was 23 when he made his first $US1 billion, while Jenner is just 21.
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