GhPageNigeria NewsMark Zuckerberg loses $16.8 billion in 2 hours, more than Dangote's net...

Mark Zuckerberg loses $16.8 billion in 2 hours, more than Dangote’s net worth

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Mark Zuckerberg’s fortune tumbled by $16.8 billion on July 26. For many of the world’s richest people, losing $16.8 billion in a day would be a wipeout.

Facebook CEO, Mark Zuckerberg, lost $16.8 billion in two hours in late trading on Wednesday, July 25, as shares of the social media giant slid 20% in post-marketing trading in New York on disappointing result.

According to the Economic Times, Facebook on Wednesday, July 25, reported second-quarter sales and user growth that fell short of analysts’ projections.

read also: Photos: Nana Addo, Bill Gates & other millionaires attend Dangote’s daughter’s grand white wedding

Reports stated that the social media company has contended for years with criticism about its content policies, its failure to safeguard private data and its changing rules for advertisers.

According to Forbes, prior to Facebook’s second-quarter results, Zuckerberg had a net worth of $77.6 billion. After the stock selloff, Zuckerberg’s net worth fell to roughly $68.9 billion, making him worth less than Berkshire Hathaway CEO, Warren Buffett.

Aliko Dangote is a Nigerian business magnate, investor, and owner of the Dangote Group, which has interests in commodities in Nigeria and other African countries.

As of July 30, 2018, Africa’s richest man, Aliko Dangote, is worth $12.5 billion. Meaning that what Zuckerberg lost in two hours was more than Dangote’s net worth.

read also: Africa’s richest Aliko Dangote plans to buy Arsenal

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