Data Breach Scandal Cost Zuckerberg over $10 Bn in a Week
The data breach concerning social media giant Facebook and the data-mining firm Cambridge Analytica is impacting Mark Zuckerberg’s wealth. Indeed, Facebook’s founder and CEO lost more than $10 billion in wealth this week only as the shares of his company free fell by almost 14% in five days on the market share.
The loss meant that Zuckerberg’s net worth is now down to $65.1 billion and consequently, his fifth position in Forbes billionaires list is now down to seven but the financial hit could have been much worse since he had sold 7.3 million of Facebook shares since September 2017, according to Securities and Exchange Commission filings.
The filings also report that Zuckerberg still owns more than 8.2 million Facebook shares after the most recent shares sale occurred this month.
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