Facebook Loses Over $100 Billion In Value, Zuckerberg Under Fire

26 Jul 2018

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Awe… That’s just too bad! It’s not so much his monetary loss I find so satisfying, but it’s the company struggling because of poor choices that make me smile. They spy on you, sell your data and get the money. They violate our free speech but only against conservatives.

“Leaving Zuckerberg with just less than $70 billion.” …”just less than $70 billion”? Cry me a river.

@Twitter #bias warning.
” Bloomberg reports that Facebook CEO Mark Zuckerberg, personally lost about 20% of his fortune on Wednesday, around $16.8 billion, which the outlet blames generally on “user disenchantment with Facebook Inc.”
https://t.co/5akeeRSx5A

— ❌ Frank Destroylibs (@frank_vego) July 26, 2018

Daily Wire:

Amid ongoing PR woes, Facebook Inc. lost over $100 billion in stock market value on Wednesday after executives warned that the company’s profits would plummet over the next few years as a result of its much-publicized crackdown over privacy concerns as well as a slowdown in usage in big advertising markets.

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CNBC has the Wall Street-stunning numbers, which it suggests is a result of the company’s struggles with “data leaks and fake news scandals”:

The company reported its second-quarter earnings after the bell on Wednesday. Shares were down more than 17 percent in premarket trading Thursday. At the current after hours prices and given its market cap at the close Wednesday, Facebook is poised to lose more than $123 billion in market value.

Reuters presented the stock market collapse in even more dramatic terms Wednesday, estimating that Facebook was poised to lose “over $150 billion” and as much as a quarter of its value. Reuters also points to the data leak scandals, particularly Cambridge Analytica, as the ultimate source of Facebook’s financial struggles. More