Zuckerberg has lost more money than many countries make in a year – Hack
Facebook boss Mark Zuckerberg lost US$19 billion in 2018 – equivalent to the annual GDP of Laos, Senegal or Jamaica.
To really put that into perspective, he lost more than 40 per cent of all nations in the world (there are 190 in total), separately make in one year.
The Facebook co-founder and CEO started the year with a net worth of around $75 billion, with most of that coming from his 13 per cent stake in Facebook.
Revelations of data breaches and unsavory practices at the executive level this year led to a number of stock price drops.
Zuckerberg, who was once tipped to be a presidential candidate in 2020, started the year with a net worth of around $75 billion. He lost more in 2018 than any of the other 499 richest people in the world, according to the Bloomberg Billionaires Index.
He had a net worth of $56 billion earlier this week.
So, all up, probably not a great year. But he’ll ultimately be okay.
To cap it off, this week US lawmakers are calling on Facebook to fire the CEO, after The New York Times reported the company allowed major tech companies, including Microsoft, Amazon and Netflix, access to users’ personal data.
This included giving the companies the ability to read, write and delete users’ private messages, according to the report.
In response, Facebook says it had permission to do this from users: “none of these partnerships or features gave companies access to information without people’s permission.”
The problem with this defence, experts say, is that many users don’t realise they are giving permission when they agree to the terms of service.
Either way, the revelations further damage the platform’s public image.