Ayo Technology: Facebook’s $116 Billion Plunge Drops Zuckerberg To World’s 6th Richest Man

 

Mark Zuckerberg lost how much during Facebook’s recent stock plunge?

Facebook’s market value shrank by $119 billion on Thursday after founder Mark Zuckerberg reported slowing audience and sales growth as the social media pioneer contended with new privacy rules in Europe and data-security concerns closer to home.

Shares of the Menlo Park, Calif.-based company dropped 19 percent to $176.26 at the close of New York trading, leaving it valued at $510.4 billion, after revenue gains slowed to 42 percent in the second quarter and executives warned of more deceleration to come.

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Facebook pays $119 billion price for European, US privacy woes

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