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Zuckerberg lost almost $ 17 billion due to the quarterly Facebook report

26.07.2018
Facebook, Finance

The publication of the quarterly report and negative forecasts of analysts led to a collapse in the value of Facebook shares, writes MarcetWatch. The financial losses of its founder, Mark Zuckerberg, according to Bloomberg, may amount to almost $ 17 billion.
Negative impact on the share price was provided by data on the decline in the growth rates of the world's largest social network. According to the report, the company's net profit was $ 5.12 billion compared to $ 3.89 billion for the same period last year. At the same time, Facebook's revenue for the quarter ($ 13.04 billion), despite the growth, was below expectations.

The collapse of the shares warmed up negative forecasts for the rate of profit growth. A similar assessment was made by the financial director of the Internet giant David Weiner. "Our overall revenue growth rate will continue to slow in the second half of 2018, and we expect our revenue growth rates to be lower in the third and fourth quarters as compared to the previous reporting periods," the statement quoted the top manager.

According to Bloomberg, the fall in the value of the company's shares deprived its founder, Mark Zuckerberg, $ 16.8 billion. If the decline in value continues after the opening of trading on Thursday, July 26, he will lose the third place in the list of the world's richest people according to the agency's version and drop to the sixth.

The third place in the ranking of the world's richest people according to Bloomberg Zuckerberg reached only a few weeks ago, in early July. Then the state of Facebook founder estimated at $ 81.6 billion, but against the background of the growth of the value of the assets held by July 25, the state of Zuckerberg increased to $ 86.6 billion, it follows from the updated version of the rating.