A little tweak to an algorithm, a giant crater in the net worth of Mark Zuckerberg.
Facebook’s CEO took a $ 3 billion coup at his net worth on Friday, while his company’s stock plummeted following news of major changes in the news feed of the society.
Facebook warned that the changes, intended to improve the visibility of messages by friends and family, could mean that people spend less time on Facebook. It would mean less advertising, which means less money.
Facebook’s stock declined by about 4%. With most of Zuckerberg’s equity in Facebook shares, that equates to more than $ 3 billion.
Do not feel too bad for him. He sits on some $ 74 billion.
And if you are a shareholder of Facebook, do not let the decline worry you. Facebook’s stock is still up 42 percent last year.
That said, Friday’s decline was among the most marked for Facebook in its time as a public company. The social network has become a behemoth in just fourteen years of its existence. It is now valued at over $ 520 billion.
Along the way, Zuckerberg became one of the world’s most admired CEOs – even though he took a few licks in 2017. Facebook’s race ended when the social network was attacked after that the Russians had made propaganda. misleading news through his system. The company has since moved to act, although some in the United States government are calling for increased regulation.
Investors mostly shook this news. Facebook remains one of the largest public corporations in the United States and Zuckerberg remains one of the richest people in the world.